Agricultural Valuation
Ag Valuation Can Lower Your Tax Bill on Ranch Land
Land used for ranching or other qualifying agriculture is taxed on its productive value, not its market value — this can mean a much lower tax bill.
Texas law lets landowners apply for an agricultural-use valuation. Instead of paying taxes based on what the land could sell for, you pay based on what it can produce. In Terrell County, ranching — especially cattle, sheep, and Angora goats — is the main agricultural activity. Most of the county's rural land likely qualifies.
This is sometimes called an 'ag exemption,' but it is really a special valuation. You apply through the Terrell County Appraisal District. There are rules about how long you must have used the land for agriculture. If you stop the agricultural use, you may owe back taxes called a 'rollback tax.' Ask TCAD about current requirements before you buy or change use.
Source to confirm: Texas Comptroller — Terrell County Tax Directory