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I've been mulling over buying up farmland and planting trees and then just sitting on it for 20 yrs to capitalize on it.
by londons_explore 2y ago
I've been mulling over buying up farmland and planting trees and then just sitting on it for 20 yrs to capitalize on it.
- dwighttk 2y agoIn the us sometimes people do that because of an agricultural exemption to property taxes.
- PyWoody 2y agoSome states call it different things but most call it in "Current Use." [0] If you want to take the land out of Current Use, you'll usually have to pay the back taxes first. Around my parts, it's seen as a very good program as it promotes natural growth. It's also great for protecting wetlands that wouldn't be buildable anyways but can now be protected at a lower cost. [0] https://www.forestsociety.org/advocacy-issue/current-use https://www.forestsociety.org/advocacy-issue/current-use
- Stevvo 2y agoIf you buy a forest of trees planted 20 years ago it will be cheaper than farmland, and you may be able to take income from thinning from day one.