Ask The Broker – Own Land And Not Pay Taxes

How Can I Own Land And Not Pay Taxes?

Pork Bay Camp L A Lot Lake 1

Generally, when you own land you will have some sort of taxes that you will have to pay. There are a few cases where you may be able to be tax exempt like being a non-profit organization, using it for agricultural use or having a third-party tax payment.

Non-Profit

Every state allows you to own property tax-free if you are a non-profit organization. While your property is tax-exempt they do expect you to provide for the public good and reduce the governments financial obligations. As a non-profit you must rely on donations as your sole-income.

Agricultural Use

The US recognize the importance of agriculture. Each state has its own criteria of what agricultural activities qualify to make you land tax-exempt. You can view the New York tax credits here: https://agriculture.ny.gov/land-and-water/tax-credits-and-agricultural-assessments

Third Party Tax Payment

Third party tax payments will have the tenants pay for your taxes each year with their rent. This method does not really work with land but if you decide to build on the land this could be a way to have your taxes paid each year and not have to worry about them.


Ask A Broker - Margie Information

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