# Leaving a Legacy....A Ranchers Wish.



## Vol (Jul 5, 2009)

Florida.....

Regards, Mike

http://www.agweb.com/article/ranchers-wish-a-legacy-of-his-land-pristine-forever-associated-press/


----------



## deadmoose (Oct 30, 2011)

Interwsting read. Any insight on how this works? I just saw something similar on the Hearst Ranch in CA.

My take is that they get to keep ranching for generations to come. This makes it sounds like the state owns and pays.for the land?

Are they getting paid not to have to pay taxes?


----------



## Vol (Jul 5, 2009)

It varies from state to state, but the basic premise is that you can never sell the land for development....it stays in its present form for perpetuity....so their land is appraised at a much lower value making their tax liability much much lower.

Regards, Mike


----------



## rjmoses (Apr 4, 2010)

Here's maybe a gotcha, at least in Illinois. Private property can be claimed by a government agency under eminent domain, then "reassign" to another company or individual under the guise of "economic development" because it will "increase the tax revenue".

I've seen this happen any number of times where mom-and-pop stores were seized then turned over to developers for strip malls, etc.

I can see something like this happening to "in perpetuity", at least here in good ole' Illinois.

Ralph

Money talks, bo'jive walks.


----------



## Vol (Jul 5, 2009)

Yes, I think Illinois is a little different than most of the rest of us Ralph.....with most due respect.

Regards, Mike


----------



## somedevildawg (Jun 20, 2011)

rjmoses said:


> Here's maybe a gotcha, at least in Illinois. Private property can be claimed by a government agency under eminent domain, then "reassign" to another company or individual under the guise of "economic development" because it will "increase the tax revenue".
> 
> I've seen this happen any number of times where mom-and-pop stores were seized then turned over to developers for strip malls, etc.
> 
> ...


Nahhhh........not a chance! (Think they'd serve time?)


----------

