Ranches and farms in Texas need your help. “Texas loses an average of 73,000 acres of land a year to development — and once it’s gone, it’s gone forever,” The Star Telegram reports. Interestingly enough, there are more farms and ranches for sale in Texas than in any other state, and these properties have the highest values of any such land in the U.S. How profitable are these lands? According to Bloomberg, “For $725 million, you can buy a Texas ranch that’s the size of a small nation.”
Texas Takes Action To Protect Its Farmlands
Farming and ranching in Texas is extremely profitable (the state also ranks first in cotton, goat, sheep, wool, and cattle sales), and the state is not going to let these industries go without a fight. New legislation offers tax incentives to Texas landowners who donate their developmental rights. As such, the land is protected — conserved in its current state as a farm or a ranch — and developers get something out of it, too. These new tax incentives have protected 930,000 acres of farmland and ranches in Texas, and it is likely that an even greater amount of land will be conserved with time. Right now, the tax incentive is a temporary measure; local and state Texas governments are working to make it permanent.
Is There Anything You Can Do?
As previously stated, purchasing a farm or ranch in Texas can be a profitable venture. Just know that it is no small undertaking. In Texas, the average farm spans 523 acres. By comparison, a football field is just over an acre (about one and one-third acres, to be exact). Whether you are simply purchasing or investing in the land or planning to make a permanent home of it, be sure to make adequate preparations and hire staff as needed.
Texas is losing its farmland and ranches — but you can help. Support Texan land conservation measures by investing in Texas farms or purchasing them outright.