$6.9 million "recreational property" in northwest Colorado with property taxes of only $303 a year [View All]

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http://www.denverpost.com/news/ci_16765372

"Recreational property" reaping a truckload of ag-tax benefits

By Nancy Lofholm
The Denver Post

Posted: 12/03/2010 01:00:00 AM MSTUpdated: 12/03/2010 06:00:06 AM MST

The listing for the $6.9 million "recreational property" in northwest Colorado touts outstanding big-game hunting, magnificent views and excellent building sites on 2,600 acres. And to sweeten the deal, how about "very reasonable" agricultural-based property taxes of only $303 a year?

Agricultural tax breaks have become a strong marketing tool in high-end real estate pitches that make no mention of cows or cornfields but do take note of the fact that huge savings are to be had with land designated agricultural for tax purposes.

Some real estate sales lists now include farms and ranches as well as a separate category for "agricultural lands" or "recreational lands." For savvy buyers, those last two categories are known to include property without the headaches of traditional farming and ranching but with the special low tax created to help keep agricultural producers in business.

"Is getting an ag tax break appealing for buyers? You better believe it," said Gary Hubbell, a ranch real estate broker who promises to help potential buyers find either a real ranch or a rural property with a ranch tax rate.

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See how the rich keep getting richer? Everything is stacked in their favor. Heads they win, tails you lose.