Wyoming Option to Purchase Farm Land to be Developed for Industrial or Commercial Purposes
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How to fill out Option To Purchase Farm Land To Be Developed For Industrial Or Commercial Purposes?
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FAQ
One of the highlights of looking to purchase land in Wyoming can definitely be attributed to the many tax benefits. No income, estate, inheritance, real estate, excise tax, and low property taxes make this investment a no-brainer for most. When comparing Wyoming's taxes with other states, the value will be undeniable.
The best and most obvious way to buy agricultural land in the United States is to buy it directly. You can buy usable pastures or farms, which can then be rented out to a rancher or farmer.
Wyoming has many attributes that make it unique as a state and as a place to own land. Hunting, fishing and open spaces are abundant. Financial opportunities come in the form of low taxes, cheap grass, and even secondary education.
Federal financing and guaranteed loans through the U.S. Department of Agriculture (USDA) are operated by the Farm Service Agency (FSA). The FSA operates three programs that can help you finance your Wyoming property. You may access the following FSA loan programs though the Wyoming Business Council.
Turning to the average value of cropland, Wyoming's figure stood at $1,350 per acre for 2017, according to the latest report from the USDA National Agricultural Statistics Service. This is down 1.5% from 2016. The other states in the Western Farmer-Stockman region all saw a boost in per-acre cropland values.
For each of the last three years the value has held steady at $660 per acre. Cropland values in Wyoming declined in 2017. The average value of cropland is $1,350, a 1.5% decline from 2016.
Parts of Wyoming can have some very large ranches that seem relatively inexpensive compared to ranches in other areas and other states. This may be because the land is not as productive, a long ways from a major town, and may have limited water or other resources.
The best area in Wyoming for cropland is in Goshen county, which is aptly named after the most fertile, desirable land in Egypt in the Biblical story of Joseph. The availability of water is the primary reason why Goshen county is so productive.
Wyoming Homestead Statutes While state homestead laws can be vary quite a bit, Wyoming's homestead exemption is not one of the more generous exemptions. You can only exempt up to $20,000 of your home - or $40,000 for a married couple who files jointly.