Actors, People of Note Considered “Farmers” in Colorado For Tax Reasons
Written by Pat's Papers | Monday, 7 March 2011 12:10 PM
You may know Tom Cruise and Goldie Hawn as actors. But in Colorado, they’re considered farmers. The Denver Post says quite a few people of note are listed on the state’s registers as farmers or ranchers in order to get tax breaks. The loophole was intended to help the agricultural communities but has recently been exploited by the wealthy owners of what are referred to as “gentleman ranches.” The Post says in some cases, the Colorado properties are the second, third or fourth in a coterie of homes.
They combed through the state’s records and compiled a list of the most surprising farmers. Cruise, for example, pays $400 a year in property taxes for his five-acre ranch outside Telluride; Gail Schwartz, a state senator, pays just $54.52 for her 15-acre parcel of land.
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