Home Buying in San Antonio>Question Details

Tony Flores, Real Estate Pro in 78023

What arer rollback taxes?

Asked by Tony Flores, 78023 Mon Oct 8, 2007

Help the community by answering this question:

Answers

3
Hi Tony. I think it has to do with tax breaks that property owners get when they use their property for certain purposes (e.g. agricultural). Rollback taxes can be assessed when the qualifying use stops. The rollback tax usually is the deferred tax plus some interest (and perhaps even penalties). I hope this helps.
Web Reference: http://www.go2kw.com
1 vote Thank Flag Link Mon Oct 8, 2007
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
Contact
where can I see the rollback tax law for south Carolina and is it per county?
0 votes Thank Flag Link Thu Jan 31, 2013
looks to me like the tax should not be retroactive . If the property is changed to another classifcation then charge at that time
Flag Thu Jan 31, 2013
Typically developers can keep property valued as agricultural with a few cows grazing on it and therefore lower taxes. When it actually starts to be develped the taxing authorities will sometimes go back x number of years and access the higher value the property would have had as commercial and access the taxes. Check out http://www.window.state.tx.us/taxinfo/proptax/tx96_295_00/ag…
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Tue Oct 9, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer