Agricultural Valuation
Farm and ranch land can be taxed on what it produces, not its market price
Texas allows working agricultural land to be appraised at its farming productivity value, which is usually much lower than market value.
Hale County is prime farming country — cotton, grain sorghum, wheat, corn, and vegetables are all grown here. If you own land that is actively farmed or ranched, you may qualify for an agricultural special valuation under Texas Property Tax Code Section 23.51. This is often called an 'ag exemption,' though it is technically a special appraisal method.
The land gets taxed on its income potential from farming, not on what a developer might pay for it. The difference can be large. You apply through the Hale County Appraisal District. If you later change the land's use, a rollback tax can apply going back up to three years. Ask the appraisal district about the qualifying standards before you buy or change the use of agricultural land.
Source to confirm: Texas Comptroller – Agricultural and Timber Special Appraisal