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Colby, Kansas | Todd:
I'm learning something today also, I had never heard of different property tax rates for investors. So it appears it means different things in different states, so what I could find....
In ND it does appear to be an outright exemption for farmers:
http://www.nd.gov/tax/misc/faq/property/index.html#Question3
Q: I am a farmer, yet my house is taxed. What are the requirements for an exemption of a farm residence?
A: There is a specific exemption from property tax for a qualifying farm residence. Each residence must be examined individually to determine if it qualifies. One should contact the county director of tax equalization of the county where the residence is located to review the specific facts of the residence. The general requirements are as follows: the residence must be located on ten acres or more of agricultural land and occupied by a farmer. A farmer is a person who devotes the majority of time to farming or ranching activities; has had net farm income that is at least 50 percent of the total annual income of the farmer and spouse in any one year of the three preceding calendar years; and has not had more than $40,000 of nonfarm income, including that of a spouse, for each of the three preceding calendar years. The term farmer includes a retired farmer who has retired because of age or illness and who, at the time of retirement, qualified as a farmer for the farm residence exemption. "Farmer" includes a beginning farmer who has begun occupancy and operation of a farm within the preceding three calendar years.
Nebraska also has a homestead exemption, but it has nothing to do with agriculture:
http://www.revenue.nebraska.gov/info/96-299.pdf
The Nebraska homestead exemption program is a property tax relief program for seven categories of homeowners:
1. Persons over age 65 (see page 3);
2. Veterans totally disabled by a nonservice-connected accident or illness (see page 6);
3. Qualified disabled individuals (see page 2);
4. Qualified totally disabled veterans and their widow(er)s (see page 6);
5. Veterans whose home was substantially contributed to by the Department of Veterans Affairs and their widow(er)s (see page 6);
6. Unremarried widow(er)s of a servicemember who died on active duty (see page 6); or
7. Individuals who have a developmental disability (see page 6).
Kansas also seems to be non-ag related and targed to low income persons:
https://www.kansas.gov/ssrv-homestead/welcome.html
What is a Homestead Refund?
The Homestead Refund is a rebate of a portion of the property taxes paid on a Kansas resident's homestead. Your refund percentage is based on your total household income. The refund is a percentage of your general property tax excluding specials. Tax on property valued at more than $350,000 does not qualify. The maximum refund is $700. Filers eligible for the Kansas Property Tax Relief claim receive 75% of their property tax with no maximum limit. Individuals are only eligible for one claim. WebFile determines the claim that is most beneficial to the household.
I lost interest before I looked up Colorado's... ;-)
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Agriculture's image problem
