# Downsizing



## Fordfarm (Dec 27, 2005)

Well - guys (and Gals), the wife and I have been giving a lot of thought to downsizing our "operation". We currently have 100 acres of my family's farm (since 1864). Most of it is pasture and overgrown with trees (previous owner let it go to He!!). We are planning on cutting down to about 40 acres and increase our goat herd. I have cleared some of the trees back out but, due to disabilities (back, hips, knees, shoulders, arthur, etc), I am to the point where 100 acres is just to much. I plan on cutting as many hedge (Osage Orange, Boudarc) posts as I can and put up some fences (still need volunteers!). We plan on offering the rest of the place to family first, but if noone takes it, then we have to go open market. Just figured I'd mention it!


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## JDFANATIC (Dec 28, 2005)

Fordfarm,

Good luck! Its no fun when you have to work for your property. Have you given any thought to renting out farmland, perhaps just for the maintenance value?


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## Fordfarm (Dec 27, 2005)

We rent out a lot of the pasture - and it covers the taxes (barely). We just want to be able to focus on a smaller place so we can get it to where we want it before I get TOTALLY decrepit!


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## Live Oak (Dec 22, 2003)

Sorry to hear about having a tough go of keep the property up Galen. I agree with JDF. I manage a good bit of land and have found that there are just not enough hours in the day to keep an eye on it much less keep it up. I lease it out to hunt clubs who so far have been a good bunch of folks who help me keep an eye on things and actually help me manage the wildlife as well. If you could rent or lease out the land to another farmer for pasture and then find a hunt club to lease it out to at the same time; that should definitely cover property taxes and allow you to hang on to the land relatively easy and even make a few bucks. Is this land in "land use" it is called "Greenbelt" here in TN but every state has a reduced property tax schedule for agricultural, timber, or open space land. Usually it reduces your property tax on the land by around half.


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