Agricultural Land Can Be Taxed at a Much Lower Rate

Texas law lets qualifying farm or ranch land be taxed on its productivity, meaning how much income it can produce, instead of its sale price. This is called a 1-D-1 or open-space appraisal. For cotton fields and ranchland in Lubbock County, the gap between market value and productivity value is often very large. That means a big drop in your tax bill.

To qualify, the land must generally have been used for agriculture for at least five of the past seven years. Wildlife management can also qualify if the land was already approved for ag valuation. You must apply through the Lubbock Central Appraisal District before the April 30 deadline. Check with the CAD for current rules and required forms.