Hi, thank you for offering this service to ask questions. I hope it will be helpful. I live in Adams County, Illinois. For years I have wondered if it would be possible for me to buy a farm from my grandmother. The farm is 145 acres, of which approximately 60 acres is timber. From what I've heard, my grandmother has been "grand-fathered" into a low tax rate, but should the property ever change hands, some forest management would need to take place in order for the property to keep a "farming" classification as opposed to a "recreational" one. My question is, IS IT POSSIBLE FOR ME TO BE ABLE TO SET UP SOME SORT OF "TIMBER HARVEST" TO RAISE MONEY TO BUY THE FARM WHILE AT THE SAME TIME, ENSURING THAT MY LAND TAXES WOULD NOT BE THROUGH THE ROOF? This is taking into account, of course, that I would be able clear these plans with my grandmother and more importantly a bank. Thanks in advance for any advice you can offer on this subject. I apologize if any of these details don't make sense or don't sound right. I am kind of operating under the idea of things that I THINK I know, but may be way off base. Thanks!
