Estate Ranch was purchased by the Foundation, and they will also need to pay an annual property tax of $3,000. That is, a property tax of one dollar per acre, which isn't expensive—the real expense comes from the buildings constructed on the land.
Property tax is differentiated based on usage, with differing rates for commercial, residential, agricultural, and livestock property taxes. If the 6,000 acres of land were to remain idle, only a minimal fee of $1 to $0.10 would be collected per acre. Even for farming and livestock breeding, the tax rates are not high.
If you want to build a villa or cabin, you would need to pay real estate tax based on the residential area.
However, Allen Zhang currently does not plan to build too many houses on this land, nor does he intend to settle here long-term. At most, he might hire someone to mend and patch things, and to put up fences and barbed wire around the ranch. This too is a major project and won't be a short endeavor.
