Farmland in Floyd County may qualify for a lower ag tax valuation

Texas taxes working farmland on what it can grow, not what it would fetch on the open market. It's called a 1-d-1 valuation, and it usually cuts the bill way down. Floyd County is cotton, wheat, and cattle country, so a lot of the rural ground here lands under it.

You earn the lower rate by applying with the Floyd County Appraisal District, and the land has to show a farming history of at least five of the last seven years. The sting comes later: stop farming and the appraisal district can claw back up to three years of the taxes you didn't pay, the rollback tax. People who buy a quarter-section meaning to put a house and horses on it get caught by this all the time. So before you close on rural land or change how you're using it, find out where the ag valuation stands. The Comptroller's ag valuation page walks through the five-of-seven rule and how the rollback gets figured.