Page 9 of 9 FirstFirst ... 789
Results 161 to 167 of 167

Thread: Grassland

  1. #161
    Join Date
    Jul 2014
    Location
    South West Victoria , Australia
    Posts
    1,459

    Default

    Well I'd say no difference at all as a guess from down under !

    When I hear people talk about multigenerational farms it reminds me of the feudal system in Britain where the land was all owned by the Lords and worked by serfs . Ownership was passed down to the eldest son or whatever and that was just the way it was .

    Many people got the hell out of there for a chance to own their own patch and unfortunately some of that generational mindset has carried over .
    "Those people who say they have no time for bodily exercise will soon have to find time for illness ". Joseph Pilates

  2. #162
    Join Date
    Feb 2013
    Posts
    1,262

    Default

    Emotion sells, the media pushes emotional pieces.... Nothing new.

    I don't know about others but I am the sixth generation on this farm. It has never been handed to anyone. Every generation bought it from the previous. I know I have paid tax value for the land purchased from my dad.

  3. #163
    Join Date
    Jul 2011
    Location
    Kaukauna WI
    Posts
    4,748

    Default

    Right, emotion sells, but there's nothing less emotional than a young couple putting everything on the line & starting their own business, & lose it all after 30 or 40 years. You maybe purchased it for fair value but it must have been a better deal than any alternative. Tax value "here" is way less than FMV. Am I the only one who sees that.

    Other things I see in these articles: they say these multigenerational farms would be forced to sell them (probably not), and/or go bankrupt (again, probably not).

  4. #164
    Join Date
    Nov 2006
    Posts
    980

    Default

    Quote Originally Posted by cousinit View Post
    Something for you to think about El Jefe. You are single & I don't know what your family plans are if any. If something happened to you (disability, illness etc) what would happen to the farm. Also once you reach a certain age, do you want all that responsibility on your shoulders alone all the time.

    You probably have this all worked out.

    If something were to happen to me, the farm is definitely going to be sold. An insurance agent was trying to sell me some expensive life insurance policy (I've already got a modest policy). His selling point was that if something happens to me then we could keep the farm going. All three of us (myself and parents) kind of looked at him and finally I said if something happens to me, I don't think anybody is interested in keeping the farm going.

    Probably around 50 years old, one way or another if I can find somebody interested in eventually taking over I'd like to start to turn over the keys. Maybe I'll call UW-River Falls and ask for their dairy science student with the lowest GPA and see if he/she is interested in farming. After all, that was me ten years ago

    edit: when I say turn over the keys, I'm talking about management keys. Financial keys is another story!

  5. #165
    Join Date
    Feb 2013
    Posts
    1,262

    Default

    Quote Originally Posted by cousinit View Post
    Right, emotion sells, but there's nothing less emotional than a young couple putting everything on the line & starting their own business, & lose it all after 30 or 40 years. You maybe purchased it for fair value but it must have been a better deal than any alternative. Tax value "here" is way less than FMV. Am I the only one who sees that.

    Other things I see in these articles: they say these multigenerational farms would be forced to sell them (probably not), and/or go bankrupt (again, probably not).
    I bought some farmland last year on the open market for 3% over tax value.

    Tax value isn't too far off "here".....unless it's an auction with 2 bto's that want it.

  6. #166
    Join Date
    May 2012
    Location
    Barron, Wisconsin
    Posts
    948

    Default

    The 40's surrounding me are priced at $7200 for tax purposes ($180/acre)....not sure they would accept my offer.

    That said, I know Wisconsin has strongly supported "use value" for tax purposes, making sure that taxes are never the reason that farmland get converted into residential. The portion of my property classified as residential is valued at $2615/acre, which is fairly close for light ground not under a pivot.

  7. #167
    Join Date
    Jul 2015
    Location
    Orient, SD
    Posts
    855

    Default

    Quote Originally Posted by ElJefe View Post
    Or I need to find a wife that makes good money so I can farm as a hobby.
    So that's the trick.....🤔🤔🤔

    Sent from my SM-G950U using Tapatalk

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •