It’s significantly lower property taxes in all states that have them. The tax rate for agricultural land is very low. You can also deduct the cost of “losing” money on the farm from your income taxes. In many states it also exempts your inputs from having to pay sales tax as well.
Is that a Mississippi thing? It’s definitely not true in other states.
It’s significantly lower property taxes in all states that have them. The tax rate for agricultural land is very low. You can also deduct the cost of “losing” money on the farm from your income taxes. In many states it also exempts your inputs from having to pay sales tax as well.