Agricultural Valuation
Farmland Can Be Taxed on Its Farming Value, Not Market Value
If land in Lamar County is actively used for farming or ranching, it may qualify for a special valuation that can sharply lower the tax bill.
Texas law lets farming and ranching land be taxed on what it produces, not what it would sell for. This is called a 1-d-1 valuation. It applies to land used for crops, livestock, hay, or timber. Lamar County is a rural county with a long farming and ranching tradition. The tax savings can be large.
To qualify, the land must have been used for agriculture for at least five of the past seven years. You apply at the Lamar County Appraisal District (the office that sets property values for tax purposes). If the land is later used for something else, a rollback tax kicks in. That means you owe back taxes for each of the three prior years, plus interest. Check with the appraisal district before you buy rural land or change how it is used.
Source to confirm: Texas Comptroller — Property Tax Exemptions (Ag Valuation)