Agricultural Valuation
Farm and Ranch Land Can Be Taxed at a Lower Rate
Landowners who use their land for farming, ranching, or wildlife management may qualify for a much lower tax valuation.
Texas taxes some rural land on its productive value, not its market value. This is called a 1-d-1 open-space appraisal. The difference can be huge — hundreds of dollars per acre in tax savings.
To qualify, land must have been used for agriculture for at least five of the last seven years. Wildlife management is also an eligible use if the land previously had an ag valuation. You apply with the Wise County Appraisal District. The Texas Comptroller's site has Form 50-129 and the full rules. Switching from ag use to other uses can trigger a rollback tax, so check before you change the land.
Source to confirm: Texas Comptroller — Ag and Wildlife Management Use