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Texas allows a deduction, with additional exemptions available for county taxes, people over 65 and people who are disabled. It also requires school districts to offer a $25,000 exemption (but not other taxing districts, such as cities and counties). [11] Texas further limits the assessment increase on a homestead to 10% of the prior year's value.
The Agricultural Law Update Newsletters contain useful and timely articles on a variety of agricultural topics ranging from conservation programs to taxation issues. In addition, the newsletters cover recent cases and laws that affect the nation's agricultural community and the attorneys and policymakers who represent them.
Texas Farm Bureau produces two member publications: Texas Agriculture for agricultural producers and Texas Neighbors for non-producing members. [9] News services also include a television program, “Voices of Agriculture,” on RFD-TV, and the “Texas Farm Bureau Radio Network,” which has more than 60 affiliate radio stations across Texas. [10]
U.S. farm industry groups want President-elect Donald Trump to spare their sector from his promise of mass deportations, which could upend a food supply chain heavily dependent on immigrants in ...
Agricultural - Agricultural exemptions are generally applied to sales of tangible property that will be utilized in farming, raising livestock, and maintaining agricultural land. According to the US Department of Agriculture, $412.3 billion of GDP relates to agriculture, and $5.816 trillion of tangible assets are in use for agricultural purposes.
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Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.