Farming or Ranching? Ag Valuation Can Save You Money

Texas has a special appraisal rule for land used mainly for farming, ranching, timber, or wildlife management. If a Potter County tract qualifies, the land is valued by what it can produce, not by what it might sell for.

The common 1-d-1 rule usually looks at recent land use. Land must be in agricultural or timber use for at least five of the past seven years. Land inside a city or town can face extra tests.

Use Comptroller Form 50-129 and work with the Potter appraisal district at 5701 Hollywood Road in Amarillo. If qualified land changes to a non-ag use, rollback tax can reach back three prior years.