Agricultural Appraisal
Ag Valuation Cuts Taxes on Rural Land
Landowners in Lampasas County who farm, ranch, or manage wildlife may qualify for ag appraisal. That means taxes are based on what the land produces, not what it would sell for.
Texas allows qualifying rural land to be taxed on what it can produce, not on its market value. In Lampasas County, where land prices have risen, this difference can be very large. To qualify, the land generally must have been used for agriculture for at least five of the last seven years. It must also be farmed or ranched at a typical level for this area.
If you change ag-valued land to another use — such as a subdivision — you owe a rollback tax. A rollback tax is the difference between what you paid under ag valuation and what you would have owed at full market value for the past three years, plus interest. Apply through the Lampasas County Appraisal District using Texas Comptroller Form 50-129.
Source to confirm: Texas Comptroller — Agricultural and Timberland Special Appraisal