[AT] Subdivision Development

[charlie hill]

Hi Dave,

Here they use some sort of "blue book" for machinery values.  It doesn't 
matter what the condition or age of the machinery is.  They just look it up 
in the book and tax it accordingly.  If it is old enough that it isn't in 
the book they don't tax it apparently.  I guess that is why my 50's and 
older tractors get deleted.

Charlie
----- Original Message ----- 
From: "Dave Ernst" <dadadidi at cccomm.net>
To: "Antique tractor email discussion group" <at at lists.antique-tractor.com>
Sent: Friday, December 03, 2004 7:42 PM
Subject: Re: [AT] Subdivision Development


>
> ----- Original Message ----- 
> From: "charlie hill" <chill8 at cox.net>
> To: "Antique tractor email discussion group" 
> <at at lists.antique-tractor.com>
> Sent: Friday, December 03, 2004 11:26 AM
> Subject: Re: [AT] Subdivision Development
>
>
>> We have the same thing here Walt.  It is referred to as use tax.  Meaning 
>> that the land is taxed according to it's use.  Agricultural use land is 
>> valued at a much lower value than the same tract would be if it were 
>> bought by a developer and left idle.  ( I know that doesn't make sense 
>> but that's what they do.)   The only catch to it is this.  If you are a 
>> farmer or developer who continues to farm a tract and keep it under ag 
>> use and you decide to turn it into a subdivision, etc. then they go back 
>> for 3 years, recalculate the value and make you pay the difference in the 
>> taxes.
>>
>> Charlie
> Interesting to note in this discussion is no mention of depreciation.
> The country here is primarily agriculture except the encroachment by 
> subdivisions.
> If I choose to sell to a developer they do the same thing here, charge 
> back taxes
> like Charlie said. But as far as agricultural machinery goes, we are
> allowed a 7 year depreciation schedule, and that helps a lot,
> and the sales tax on machinery related to agriculture is 2% in this state.
> Dave
>
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