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| You need to make sure you know of any tax changes caused to your land from leasing your land. Here in our fine state of IL if you rent your non-tillable land out for hunting it is then considered recreational land and it will double or triple your land taxes. For example, hills and hollers which raise nothing but wildlife and timber is considered wasteland and taxed at a lower rate I believe it is 1/3 or less of market value. If its' status is changed to recreational it is taxed at full market value. So some woodlands that would sell for $1000 is taxed at a value of $333/ac but once you lease it it goes to $1000/ac!!! Thus tripling your land taxes. There are a few ways around this depedning on how much farmable land is attached or if you have a timberland plan. Still, if they know you are leasing it and a good lease should have something on paper they find ways around the loopholes to raise your taxes anyhow. | |
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Hunting land
