Tuesday, December 14, 2004

Everything's Bigger in Texas -- Except the Tax Bill

Whether you make corn chips or silicon chips -- you can profit from cow chips in Texas. Frito Lay, Intel, and Ross Perot have skipped out on paying taxes to support Texas schools by turning prime beef loose on their prime real estate. They're taking advantage of state laws in the Lone Star State that were supposed to help farmers. The law's wound up hurting schools.

The Dallas Morning News found that "maintaining a small herd of cattle, planting a few acres of crops or merely growing native grasses, landowners can keep their taxes low while the market value of their prime real estate grows. An agricultural exemption can reduce a $240,000 annual tax bill, for example, to $300." (Dallas Morning News)

2 comments:

Gindy said...

Right on. These are the facts. I just like hearing them.

Ike said...

The Law of Unintended Consequences clearly states that a government that gives away free cheese breeds rats.