Agricultural Valuation
Farm and ranch land can be taxed on productivity, not market value
Texas allows agricultural land to be appraised on what it can produce rather than what it could sell for, which usually means a much lower tax bill.
If you own farm or ranch land in Taylor County, you may qualify for agricultural special appraisal. Instead of being taxed on market value, the land is valued on its ability to produce crops or livestock. That productivity value is almost always lower, so your tax bill shrinks.
To qualify, the land must have been used for farming or ranching for at least five of the past seven years. Eligible uses include cattle grazing, crop production, and wildlife management on land that already held an ag valuation. You apply through the Taylor County Appraisal District using state forms. If you later develop the land, a rollback tax for up to three prior years can apply. Check the Comptroller's site for current rules and forms.
Source to confirm: Texas Comptroller — Agricultural Special Appraisal