Farmland Loophole Costly

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Tom Cruise, Goldie Hawn and Kurt Russell are Colorado farmers, at least for tax purposes. These celebrities save thousands of dollars each year by doing just enough with their land to be taxed at a farmland rate. They aren’t the only ones taking advantage of this tax loophole. Developers do this too. A recent report by The Denver Post shows how widespread this practice is in eight metro counties. Ryan Warner talked with Christopher Osher, one of the Post reporters on the series.

(photo credit: Libary of Congress)