Tons of plans, ideas, and schemes for avoiding or reducing taxes owed have been an undeniable part of society for years. One group of people in Florida has come up with a unique way to beat the system. Florida has what’s called a greenbelt law, which allows for lower taxation rates of farmland in an effort to support agriculture. It dates back to the 1950s, when swamplands were being converted into commercial areas because owners couldn’t afford the taxes. The only current limit is that the greenbelt law does not apply to residential areas. Why? People were simply buying a few sheep or cows to keep on their property in order to save money.
One thing is being done that is definitely out of the ordinary: renting cows. It’s not exactly what it sounds like, but it definitely is a unique way to bend the rules. These people, generally businesses, can avoid paying the higher tax rate simply by keeping some livestock on their property. This loophole got the nickname of “rent-a-cow” because the land owners will actually often pay the ranchers to keep their cows on their property. Walt Disney World is one of the most notable partakers in this loophole, and it is estimated that it has saved them over a million dollars. Reform efforts have been made, but nothing has stuck. Lawmakers are hesitant to make any changes because, despite this law costing the state hundreds of millions of dollars each year, it is hard to know where to draw the line and how it would impact any actual farmers.