|
Southern Missouri | Yes they are legal and probably ok for families, widows etc that want their land to go to conservation uses , and people doing it get a tax break in exchange for giving the government a forever lease on their land , sounds fair enough, till the abusers get on it as in this case , I know that thing is 64 pages long but in a nutshell the bought a gumbo farm in Louisiana for 2900 an acre and in just a few weeks had it appraised by a dude that the IRS claims is a fraud ( insert duh here ) for a little over 400000 dollars an acre for the farm to be used as a “clay mine “, 116 million worth of tax credits to sell , and they sold them , sold them all , a hundred and sixteen million dollars worth of them , I’m not here to judge , just reading the charges and walking around in amazement that this can be done , didn’t say can be got away with , but it can be done evidently.From what I understand the laws have been changed on how people doing it can use an appraisal to establish the value , what a country
Edited by sloughclub 9/16/2024 20:42
| |
|
Interesting land market evaluation
