Property Tax
Farming or Ranching? Ag Valuation Can Save You Money
Land used for farming, ranching, or wildlife management in Potter County may qualify for a lower tax appraisal based on what the land produces, not what it sells for.
Texas law allows agricultural or open-space land to be taxed on its productive value rather than its market value. This is called a 1-d-1 appraisal. The difference can be significant in areas where market land prices are high.
Land must have been devoted to ag or timber use for at least five of the last seven years. In some cases, land inside a city must meet extra requirements. Apply through the Potter County Appraisal District using form 50-129. If you change the use of the land, a rollback tax applies. Check current rules at the Texas Comptroller website.
Source to confirm: Texas Comptroller — Ag, Timberland and Wildlife Management Appraisal