New Braunfels Herald Zeitung, April 11, 1995, Page 3

New Braunfels Herald Zeitung

April 11, 1995

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Issue date: Tuesday, April 11, 1995

Pages available: 20

Previous edition: Sunday, April 9, 1995

Next edition: Wednesday, April 12, 1995

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Publication name: New Braunfels Herald Zeitung

Location: New Braunfels, Texas

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All text in the New Braunfels Herald Zeitung April 11, 1995, Page 3.

New Braunfels Herald Zeitung (Newspaper) - April 11, 1995, New Braunfels, Texas Tuesday, April 11,1995 ■ Herald-Zeitung ■ 3Nationwide is the proud sponsor of the PftOi^PQOMiSEn tort of Honor Bf ON THE HONORS UST Bur YOUR PAVER HOH WW * Productivity appraisals can save money for farmers and ranchers Farmers and ranchers may be eligible for property tax relief on their land. They may apply for a special, lower appraisal of their land, based on what the land will produce rather than what it would sell for in the open market, said Lynn Rodgers, chief appraiser of the Comal Appraisal District. “The Texas Constitution provides for 2 types of agricultural productivity appraisal,” Rodgers said. Article 8, Sec. 1-d-l, addresses what is known as agricultural appraisal. Article 8, Sec. 1-d, also addresses agricultural appraisal but has different qualification requirements. Property owners rarely apply for agricultural appraisal under Section 1-d. Landowners must file for special appraisal at the appraisal district office by May ll. Those who must file this year include owners of land qualified for 1-d appraisal and landowners whose property did not previously show that they devoted the land’s use principally to a qualifying use for at least 5 of the preceding 7 years. Under 1-d, the owner must file an application each year. The owner must be an individual—not a corporation, partnership, agency or organization. The land must have had agricultural use for at least 3 years. And, the owner’s primary job and source of income must be agriculture. “In addition, landowners should know,” Rodgers said, “that the law provides specific penalties for taking qualified land out of agricultural or timber production.” The rollback tax is the difference between the taxes paid under productivity appraisal and the taxes that would have been paid if the land had been put on the tax roll at market value, Rodgers explained. The law also requires that the rollback tax include interest charges. receive 1-d-l appraisal. The appraisal district must accept lare-filed 1-d-l appraisal applications until the day before the appraisal review board approves the 1995 appraisal records, but late applications will draw a penalty- “The requirements for applying and qualifying both the land and the owner are different for the two types of appraisal,” Rodgers said. Most property owners apply for I -d-1 appraisal. To qualify, the owner must use the land for agriculture, growing timber or as an ecological laboratory. This form of appraisal does not restrict ownership to individuals and does not require agriculture to be the owner’s primary business. This special appraisal requires that the land’s use in a qualifying agricultural or timber purpose meets the degree of intensity generally accepted in the area. And, the owners must Under 1-d-l, an owner triggers a rollback by changing the land’s use to a non-agricultural use. The rollback taxes are based on the 5 tax years preceding the year of the change. Under the I -d appraisal, if the owner sells the land or changes its use, the rollback extends back for the 3 tax years before the year in which the change or sale occurs.    ^ Landowners must apply for productivity appraisal with each appraisal district in which they have land. Failure to do so could result in landowners paying taxes on the land’s full market val- Preserving Our Past Bob Smith (left), President of Texas Commerce Bank, and Jim Hendricks, President of Hendricks and Associates, both members of the Main Street Paver Committee, tie two 8-foot banners onto columns of the gazebo on the Main Plaza. Put your name on a paver before the deadline of April 30. Cost: $25. Watch for an order form in the Herald-Zeitung or pick one up from the downtown stores, the City Desk, Chamber of Commerce, or call 608-2100 for more information. ue. Additional information and application forms are available from the Comal Appraisal District office. The staff will assist landowners in determining if their property qualifies for special appraisal. Hospital unveils new office New Braunfels Chamber of Commerce Blue Coats helped out with the ribbon cutting for the new Hospital Development office at McKenna Memorial Hospital recently. The office is located at 610 N. Houston St. Nationwide' is on your side. For Auto, Life, Home and all your insurance needs. Dave H(Jivell    31 K-Mart Plaza 1050IH 35 East, Suite 500    || New Braunfels 620-4224    ; f NATIONWIDE INSURANCE Nationwide is on your side EXERCISE RATE CONTROL Here’s a chance to secure 18-months of rate protection with a 9-month CD. Theres so much investors can’t control in today’s financial markets. That's why CDs have long been an answer to market worries. Now, our 9-month CD lets you exercise even more control. Take control by securing 18-months of rate protection with a 9-month CD. Open a Victoria Bank & Trust 9-month Certificate of Deposit When it renews, you can earn either the original APY or our prevailing APY, whichever is higher. lf rates go down, you have the certainty of knowing you can earn your original APY for the next 9-ononth term, lf rates go up, you have the flexibility of earning the current 9-month APY if you renew. Opportunities like this don't last long, so call us and we'll show you how to get measurable results... even with today's unpredictable markets. Victoria Bank&TSust Serving generations of Texans for more than a century. Mrahrr: MIN til VVhiru tiuil Jufr. In. Th* Annual Parronrap» Yiaid (APY) to accurate ai af April ), IWS. and to nApct to changa. Minimum dapntor to opan an account and obtain Chm APY to $1,000 (SSM far UUU; APY for *-mondi WA CO to t.24%). Maximum dapotot to $100,000 toto account. Umtoad tom < New Braunfels: 1000 N Walnut Canyon Lake: 1121 FM Road 2673 210/625-6262    210/964-2265 ■A ;

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