4 Reasons to Purchase a Ranch in Wyoming
Perhaps no place in the U.S. represents the spirit of the West as well as Wyoming. This state has it all—wide-open landscapes, towering mountains, plentiful rivers, lakes, and plains. Located right in the middle of the heartland, Wyoming offers unparalleled hiking, camping, fishing, and hunting opportunities. It’s easy to see why it’s a great place to call home.
Ranch owners in Wyoming enjoy a number of benefits. With many ranches for sale in Wyoming at a wide range of prices, you can afford to take advantage of these benefits. Here are just a few reasons to purchase a ranch in Wyoming’s big country.
Wyoming has some of the absolute lowest land, property, and real estate taxes in the country. Relocating here can truly save you a lot of money on your yearly tax bill. Furthermore, there are federal benefits as well, especially if you own conservation land. Conservation easements can further reduce your taxes as you contribute to maintaining some of the best of America’s natural beauty and resources.
Among the many ranches for sale in Wyoming are some of the most beautiful sites in the country. Wyoming boasts not only Yellowstone National Park and Grand Teton National Park but many gorgeous, private areas as well. There are countless hiking and riding trails, rugged prairies, woodlands, and waterways available to own.
Of course, with all the natural beauty, recreational opportunities abound. Water sports, fishing, hunting, and horseback riding are all great options for entertainment here. Also, don’t neglect the value of simple relaxation. With the wide-open skies and scenic landscapes, sometimes the most important activity is simple peace and tranquility.
There are almost innumerable ways to earn income from a Wyoming ranch. The state has a rich and long history of ranching that continues to today. Horse breeding, for example, can be richly rewarding and immensely profitable. With the large acreage of ranches for sale in Wyoming, this is always a possibility.
Naturally, cattle ranching is a perfect income opportunity for Wyoming ranch owners. Food prices continue to rise, and beef is no exception. If you don’t wish to raise your own cattle, you can still generate income by leasing some of your land to other cattle owners. You’ll still reap the benefits with less effort on your part.
Prestige and Heritage
Ranching is ingrained in the culture of Wyoming. There was a long history of ranching here before the place was even a state. The pioneers that settled this land brought with a strong will and work effort. As such, responsible ranch owners in Wyoming are respected as pillars of the community and job creators.
The state leaders acknowledge this and have passed laws and ordinances that promote the ranching economy. For example, there is no state income tax, and Wyoming has a unique dynasty trust statute. This allows you to preserve over $5 million of your wealth in a trust protected from federal estate taxes for your descendants for 1,000 years.