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Off The Water
Watering Hole
Buying my first house:)
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<blockquote data-quote="DocWatson" data-source="post: 238179" data-attributes="member: 112"><p>Congrats !!! Really NICE piece of property !!!!! Sounds like you got a really decent deal on the place and should have a low interest mortgage to pay off without ever having to think about refinancing it. Sweet !!! You might want to look into what the Virginia rules are for getting the property declared a farm for tax purposes. In NJ, if you plant an area with christmas trees with the "intention" of raising them for sale or bring in a couple sheep and keep them in a shelter on the land, you can be designated a farm, at a significantly reduced property tax rate. </p><p><span style="font-size: 10px">Edited by Doc to apologize for his stupidity---- </span>seems I forgot your wife has horses. Keeping them on the property will get you the farm deduction in Jersey and should do the same in Virginia.</p><p></p><p>Just so the rest of the guys can see what you bought.........</p></blockquote><p></p>
[QUOTE="DocWatson, post: 238179, member: 112"] Congrats !!! Really NICE piece of property !!!!! Sounds like you got a really decent deal on the place and should have a low interest mortgage to pay off without ever having to think about refinancing it. Sweet !!! You might want to look into what the Virginia rules are for getting the property declared a farm for tax purposes. In NJ, if you plant an area with christmas trees with the "intention" of raising them for sale or bring in a couple sheep and keep them in a shelter on the land, you can be designated a farm, at a significantly reduced property tax rate. [size=2]Edited by Doc to apologize for his stupidity---- [/size]seems I forgot your wife has horses. Keeping them on the property will get you the farm deduction in Jersey and should do the same in Virginia. Just so the rest of the guys can see what you bought......... [/QUOTE]
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Off The Water
Watering Hole
Buying my first house:)
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