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dennymal
Veteran Contributor

Re: Central Kansas Land Auction

Most if not all the land for sale has been to settle estates, that way they get a stepped up basis. I doubt very much if any of them are looking to buy back. From what I've seen from heirs, beautiful campers, second homes, antique cars. To think parents, grandparents lived liked pipers to accumulate, just to have a lot of it spent. They would probably roll over in their graves to see what heirs are spending their money on.

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OKdon
Senior Contributor

Re: Central Kansas Land Auction

I have done the math. My $170K house in the city costs more in real estate taxes than does a $1 million 80 acre farm. The reason your citified homes don't pay much property tax is because they aren't valued very high. Yes renters do pay real estate taxes included in every rent check. So indirectly I think they are justified in voting for public spending. BTW I never ever bought any real estate without factoring in property taxes.

 

Also i might suggest that my farm is  income producing propoerty and my house is not.

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Kay/NC
Honored Advisor

Re: Central Kansas Land Auction

Then you are damned lucky on that farm.  Similarly valued land here in NC is costing me $1000 per month.  A $170,000 house would cost less than $150 a month.  . 

 

Just because things are a certain way where you own property doesn't  mean that they are that way everywhere.  Universally, farmland subsidizes every house in every COCS study I have ever seen. 

 

Even in your example, that farm asks for virtually nothing in services.  Your house has numerous public service costs associated with it. 

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OKdon
Senior Contributor

Re: Central Kansas Land Auction

are you comparing prime farmland or a large hog complex?

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Kay/NC
Honored Advisor

Re: Central Kansas Land Auction

Ag is ag here...land or buidlings all get the same rate. 

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Kay/NC
Honored Advisor

Re: Central Kansas Land Auction

Probably, but this is America, and it is their money. 

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k-289
Senior Advisor

Re: Central Kansas Land Auction

Kaye  -  Let me see here - you get taxed 12  times as much - I would probably say sell the farm and buy houses although saying ag doesn't get services - aren't we forgetting some items like EQUIP - depreciation,  to name a few while the guy driving his pickup to his  R Road job gets to deduct nothing --- we both know how the 8-5 folks turn out on tax deductions ---  

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k-289
Senior Advisor

Re: Central Kansas Land Auction

Also we all know for now the better investment as of late is rural real estate or commercial- grade real estate --- Not many houses have had the good fortune to go up 500% --- Don't think we expect a lot of sympathy from our city folk consumers ---   

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Kay/NC
Honored Advisor

Re: Central Kansas Land Auction

I have plenty of both rental houses and hog houses. The hogs don't send any children to school, or call for the law when someone's gad too much of a snootful and gets rowdy.
I would say we were talking about property tax treatment, not programs that seve public goals ( EQIP is a prime example) or federal income tax code. The public job worker gets anumber of breaks...mortgage interest, EITC, etc.

I have dealt with human tenants and hogs for decades now, and would rather clean up behind pigs, than basty people.
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wt51015
Senior Contributor

Re: Central Kansas Land Auction

That attitude has already come and it isn't pretty. The more land one owns means that he has less a say when it comes to bond elections.