My old hunting club !

[Smithvillefeller]

There must not be much income productivity on those properties to justify it going fir that cheap

 

[furtaker]

It so often is "all about the money" but not how most of us think. I hunt with a good buddy on a beautiful tract of land in bama that his dad owns and they both live on. As he has explained it to me, they have had to work their butts off with lawyers and people "in the know" to set up trusts and I don't know what else to plan for when his mom and dad pass on (in their 80s). Long story short, if they didn't none of the kids have the means to pay the taxes (death tax) to keep the property if it was simply left to them as their inheritance. He estimated they would have to sell half to keep half that way. Which to me it total bunk to have to pay that much in taxes on something that dad has been paying taxes on for decades just because it gets left to ya.

Paying taxes on property that you own is the biggest scam/theft/ripoff in history.

I guess none of us really own anything after all.

 

[turkeykirk]

I’m trying to find out all that information for a friend already ?

Should have done that before the sale. Maybe could have kept the property.

 

[chrislibby88]

It so often is "all about the money" but not how most of us think. I hunt with a good buddy on a beautiful tract of land in bama that his dad owns and they both live on. As he has explained it to me, they have had to work their butts off with lawyers and people "in the know" to set up trusts and I don't know what else to plan for when his mom and dad pass on (in their 80s). Long story short, if they didn't none of the kids have the means to pay the taxes (death tax) to keep the property if it was simply left to them as their inheritance. He estimated they would have to sell half to keep half that way. Which to me it total bunk to have to pay that much in taxes on something that dad has been paying taxes on for decades just because it gets left to ya.

Pretty sure Biden has some plan for taxing inheritances even harder, so it’s likely going to get much worse in the next 4 years

 

[antharper]

Most likely Beasley Timber company just up the road in Hazlehurst. If so, it will be leased out again.

I think it sold to several different people , but I do know the biggest block 1400ac went to someone , maybe them . This was Claude Cook property , also from around Hazelhurst

 

[antharper]

Should have done that before the sale. Maybe could have kept the property.

They got plenty more

 

[antharper]

There must not be much income productivity on those properties to justify it going fir that cheap

About average for the area .

 

[ucfireman]

I guess this is what happens when the owner dies and its left to his 2 daughters View attachment 1063226

Wish the State would have known about it, Could have been made a WMA possibly. I have spoken to a few folks with DNR and they say there are always looking for land, just no one tells them there is some available until its too late.
The land acquisition folks are just like everyone else and looking at ads etc.
Word of mouth is where it needs to be.
If you hear of a good size tract contact DNR.

I forecast that I will be able to relate to you in the near future. I lease a property that my grandpa lived on and was caretaker of beginning in the late 70's. It's the place where I learned to shoot a gun, drive a truck, grow a garden, raise hunting dogs, and take care of a place that wasn't my own as if it was my own. And still do. My Papa has been gone 10 years now and the landowner still only charges me the same rate he's charged for years. He says he has no plans to sell the property, but let's be honest... He's in his late 70's, has more than a couple of heirs, and the 1,000 acres across the paved road from us just got rezoned to for industrial/warehouse development. It's just a matter of time.

Hate those dang companies relocating here and the warehouses, They need to stay up north where its already overcrowded and leave us be. These million plus sf warehouses are a sad sit to see.

As for the inheritance tax, isn't the first 5 million untaxed? I think that's the last number I heard.
Also if you inherit land or a house and flip it immediately there are no taxes. It something called "basis". You inherit it at "market value" and you sell it a "market value" so there are no personal gains.
I'm not a tax expert but that is what I was told by my tax guy when I got 14000 for a sale of inherited property.

 

[Nimrod71]

Let me inform everyone, You may think you own the land that you bought and paid for but you don't: You just rent it from the government, you pay taxes on it and if you miss your annual tax (RENT) payment the government will take it from you and sell it on the courthouse steps for the taxes owed. You just the rent the land, one acre or ten thousand.

 

[OleCountryBoy]

I think it sold to several different people , but I do know the biggest block 1400ac went to someone , maybe them . This was Claude Cook property , also from around Hazelhurst

Claude Cook has been passed for 20 years, this was his daughter Carolyn's land, she passed last year.

 

[Son]

Government has caused many families to lose large tracts of land in the past. Death taxes are theft by taking using laws.

 

[antharper]

Claude Cook has been passed for 20 years, this was his daughter Carolyn's land, she passed last year.

You are correct ! It’s her daughters , my family has leased this property for at least 40 years . Blackfish hunting club , it’s between flattub and Barr’s bluff

 

[antharper]

Most likely Beasley Timber company just up the road in Hazlehurst. If so, it will be leased out again.

Beasley didn’t purchase any I don’t think , 2 guys from Florida bought half of it

 

[HughW2]

It so often is "all about the money" but not how most of us think. I hunt with a good buddy on a beautiful tract of land in bama that his dad owns and they both live on. As he has explained it to me, they have had to work their butts off with lawyers and people "in the know" to set up trusts and I don't know what else to plan for when his mom and dad pass on (in their 80s). Long story short, if they didn't none of the kids have the means to pay the taxes (death tax) to keep the property if it was simply left to them as their inheritance. He estimated they would have to sell half to keep half that way. Which to me it total bunk to have to pay that much in taxes on something that dad has been paying taxes on for decades just because it gets left to ya.

Does Georgia have estate or inheritance tax? I had heard that as a state we do not. As mentioned above if the property stays in the family that has been paying taxes over the years how can that same family be taxed again at the time of death?

 

[across the river]

Does Georgia have estate or inheritance tax? I had heard that as a state we do not. As mentioned above if the property stays in the family that has been paying taxes over the years how can that same family be taxed again at the time of death?

No, but the Federal tax is like 40% on estates over 11 million or so, but that number will be going down no doubt with the new regime.

 

[HuntingFool]

Bad thing is they don't make any more land. Once you split it up, you can't put it back together.

 

[twoheartedale]

They did the same thing with our club and it went up for auction. Prior to the auction bidders had a chance to purchase all the land at a cheaper rate, which is exactly what happened and we got the hunting lease back right away, never missed a beat.

Good luck.

 

[HughW2]

No, but the Federal tax is like 40% on estates over 11 million or so, but that number will be going down no doubt with the new regime.

Across the River,
Thanks.

 

[ucfireman]

They did the same thing with our club and it went up for auction. Prior to the auction bidders had a chance to purchase all the land at a cheaper rate, which is exactly what happened and we got the hunting lease back right away, never missed a beat.

Good luck.

That's odd, Most auctions will auction the parcels then if you want to buy the whole thing or combinations of tracts you have to raise the bid by at least 10%.

 

[antharper]

That's odd, Most auctions will auction the parcels then if you want to buy the whole thing or combinations of tracts you have to raise the bid by at least 10%.

That’s how my lease was done