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SW Ohio | Every square foot of my county has development potential, mostly houses but also commercial. I can think of a few properties that have 20-30 acres tillable, 60+ in the whole "farm", a 1960's ranch style house worth $150-200k by itself, and the whole tax bill divided by tillable acres is 2X average rent for medium good ground, if you take out the house from the tax bill it still comes in at 75-100% of rent, really hard to get that point across to landlords who think the tillable rent should pay the whole tax bill. Some commercial ground has taxes in the four digits per acre. Bare 99% tillable ground now is $40-80 per acre tax, even after taking our CAUV (lower farm tax rate). Some of this ground rents for, and is truly worth less than the taxes, no tile, heavy critter pressure, chopped up small fields, etc. | |
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