Last time I checked, many, many years ago it was 7 years. Considering the change in pricing of rural property around here in the last 7 years, that adds up quickly. Unimproved ag. land is currently taxed at $1.75/ac/yr. If the same land were non ag. the annual tax would be $184......source: my current annual taxes.
So taking $180 as the difference at 7 years and a quarter section (160 acres) would be quite a chunk of change: $201,600 just in tax arrears. Something for a developer to think about. Course the trick is to sell it quick (within the year, or keep it leased in ag. while selling it off), and letting the buyer (beware) do the tax paying....an option at closing....if he/she can sucker the buyer into doing that.
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