Ag Valuation
How Agricultural Land Gets a Lower Tax Value
Land used for farming, ranching, or timber in Wood County can be valued at its agricultural use — not its market price — which sharply reduces property taxes.
Texas law lets qualifying rural land be taxed on what it earns agriculturally, not on what it could sell for. This is called a 1-d-1 open-space valuation. In Wood County — which has active cattle ranching, poultry operations, and timber production — many tracts qualify.
To get this status, the land must have been used for agriculture or timber for at least five of the past seven years. You apply through the Wood County Appraisal District using state form 50-129. If you stop farming the land, a rollback tax covering the previous three years of back taxes can be triggered. The WCAD forms page has the current application.
Source to confirm: Texas Comptroller — Ag and Timber Special Appraisal