Florida Tax Loophole: Rent-a-cow
Florida's greenbelt law was originally put in place in the 1950s to protect farmland by taxing it at a lower rate than other land. But recently, some Floridians have been taking advantage of this tax break by literally renting cows for their land or even hiring ranchers to keep cows on the land.
Other beneficiaries of the law have included Walt Disney World ($1.5 million in savings), as well as U.S. Senator Bill Nelson ($43,000 in savings), who keeps about six cows on 55 acres of land near the Indian River, courtesy of a cattle ranching operation that leases the property for free. Like Nelson, some developers simply offer their land to ranchers for no charge. Others, as the Herald noted, actually pay the ranchers -- hence the loophole's nickname, "rent-a-cow."