New Home and ~70 Acres of Unknown Project

[TigerFanatic1]

One consideration is the taxable value. As a working farm, here, the taxes are ~2/3 less for ag use. Hay is also a commodity that is becoming rare in my area. As the older guys retire, the land is being converted to houses, not kept as a farm. Of course, cattle and hay can make a decent combination. Direct to consumer beef sales (interwebz, roadside) is fairly profitable. However, shipping costs for processing at a USDA licensed facility can become problematic.
Cotton is making a comeback to the east and south of me, don’t know the economics of it though.

I need to look into how to become ag property and the steps to become a farm. My first thought was hay for pasture, but after looking into equipment prices, I just don't see how I could pay it back with just 25 acres. I could possibly buy some older equipment, but I don't have the slightest idea on working on hay equipment.

Second thought was cattle, but I work in the oilfield 14/14 rotation and wouldn't have anyone to help on the time away.

 

[yanmars]

In my area woodland is taxed less. If feasible one could put the open area in CRP (Conservation Reserve Program) and the Feds will pay you an annual rent for 10 or more years. Check out all the details first with your FSA and SWC people.

 

[TigerFanatic1]

We were able to get the cement trucks in between the rainy days.

 

[D&D]

I need to look into how to become ag property and the steps to become a farm. My first thought was hay for pasture, but after looking into equipment prices, I just don't see how I could pay it back with just 25 acres. I could possibly buy some older equipment, but I don't have the slightest idea on working on hay equipment.

Second thought was cattle, but I work in the oilfield 14/14 rotation and wouldn't have anyone to help on the time away.

Two other things you could look into that may be less time consuming

Find Your State's Tree Farm Program

Use this map to connect to your State's Tree Farm Program. Select the state in which your property is located. There are 44 state Tree Farm programs across the United States.

www.treefarmsystem.org

https://www.fsa.usda.gov/Internet/FSA_File/pollinator_fact_sht.pdf

 

[joeyd]

Have you thought about renting out the hay fields? Let someone else plant and harvest then no equipment costs to you except for the equipment you want for personal use.