Some celebrities are taking the advantage of lower agriculture tax rate. These celebrities are Tom Cruise, Goldie Hawn and Charlie Ergen. They people are paying low legal property tax because their homes are located in Colorado that land is categorized as agriculture land.
You can take the advantage of low agriculture tax rate by allowing livestock to graze on your land or growing hay. Tom Cruise who owns the land near Telluride let sheep to graze. He pays $400 tax on the land of 248 acres that is of $18 million worth. On the other property, he pays $11,380. Tom Cruise didnt give any comment regarding his property and its taxes.
Walker Stapleton, real estate investor pays only $116 tax on the land of 180 acres near Castle Rock.
Gail Schwartz bought a property of 15.4 acres for $690,000 in 2004. She pays $54.52 tax on this land situated in Basalt subdivision.
Celebrities take the benefit of lower agriculture tax break