Agricultural Exemptions in Texas

[Tom MacDonald]

Hi guys, I am a long-time BP podcast listener and this is my first forum post.  I am hoping that someone can offer insight into the requirements and effects of gaining agricultural exemptions, particularly in Texas.  My interest stems from the following real estate strategy I am forming:

1. Identify around 10 acres of undeveloped/partially developed land in my home state (Texas) that is within the trajectory of projected urban growth.

2. Develop the land to provide water + electricity.

3.1 Install manufactured homes on the land and acquire renters.

3.2 Install horse stables and rent space to horse owners.

4. Gain an agricultural exemption to significantly reduce land taxes.

5. Sell for profit as urban growth increases land value (5-10 years).

I am a young but motivated investor and would be appreciative of any information.

Thanks ya'll!

Tom