Chapter 494 - 243: The Troubles of Happiness_3
Estate Ranch was purchased by the Foundation, and they will also need to pay an annual property tax of $3,000. That is, a property tax of one dollar per acre, which isn’t expensive—the real expense comes from the buildings constructed on the land.
Property tax is differentiated based on usage, with differing rates for commercial, residential, agricultural, and livestock property taxes. If the 6,000 acres of land were to remain idle, only a minimal fee of $1 to $0.10 would be collected per acre. Even for farming and livestock breeding, the tax rates are not high.
If you want to build a villa or cabin, you would need to pay real estate tax based on the residential area.
However, Allen Zhang currently does not plan to build too many houses on this land, nor does he intend to settle here long-term. At most, he might hire someone to mend and patch things, and to put up fences and barbed wire around the ranch. This too is a major project and won’t be a short endeavor.
Later on, he would explore and develop underground oil resources according to the intelligence obtained, purchase professional equipment, drill wells, and sell the extracted oil.
Drilling an oil well could cost tens of thousands to a few hundred thousand dollars! It’s another significant investment and requires a considerable workforce.
Without local police resources, it definitely isn’t too safe—there will certainly be oil thieves.
Oh, and Voodoo.
After sending off the Deer couple and Police Chief Morgan, Old Karl also drove over enthusiastically and greeted Allen, "Buddy, did you really buy this piece of land? How much did you spend?"
"1.8 million dollars." Allen Zhang held the map of Estate Ranch, marking out three areas.
One area is a fertile plain suitable for livestock grazing and farming. Another is close to the lake and a bunker, which could be developed into a vacation area and suspected oil exploration zone, and could also cater to a private shooting range.
The third area is the hillside and woodland, where it seems that animals such as coyotes and rabbits are present. Not many people go there, so maybe some elks and other species could be introduced for hunting and outdoor cooking.