Posted by paul on April 12, 2012 at 13:27:00 from (76.77.196.252):
In Reply to: Garden Rent posted by Frankmn on April 12, 2012 at 11:32:09:
Whew, that's a tough one. Agland/ garden land won't ever pay developmental prop taxes for sure.
Does this qualify for Greenacres tsx abatement, farming it can get you a kickback on that if ththe ecconomy has put the brakes on development for several years? I don't know the details on it, but worth looking into. The tax break can be more than the rent ever will be.
'Garden' land by a city is so different than 'crop' land out in the country, I just don't know what to say on the value. Small parcel like that would be worth less out in the country, might not apply for a garden deal. Trees around it decrease the farm value, again might not apply for garden. So many variables.
Will they get a longer term lease, 3 years, so they can set up fertility better over a multi-year deal, then it should be worth more to them. If you are year to year, then probably worth less. If you can yank it away on a moment's notice for building, then they are doing you a favor to keep the weeds down, not much value at all.
Garden land can be far more profitable per acre than farm land, but it's all in the labor & effort involved, your land is probably poorer so worth less. An odd contradiction. ;)
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