In 2022, Bill Griggs — the owner of Griggs Farm in Billerica, MA — was told that his farm owed the town $300,000 in back taxes. At the time, the farm had been in business for roughly 80 years.
But Griggs fought back, demanding a breakdown of the specific taxes that the town was charging on his farmland.
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"What they want is just unsustainable," Griggs told WBZ-TV at the time. "I do not have a breakdown. I just have a grand total. I’d like to see the breakdown of what they are actually charging on the business land."
Now, CBS News Boston reports that Griggs has won his fight — and not only does he not have to pay $300,000 in back taxes, he actually gets to walk away with a $31,000 check.
How Griggs fought the law, and won
In 2017, Griggs stopped paying taxes on his land, claiming that the town of Billerica had been taxing his land improperly since 1997.
Griggs’ farm was assessed at a value of $1.2 million, which he claimed was way too high. Part of Griggs’ argument was that his farm is covered under Massachusetts’ Agricultural Preservation Restriction (APR) program.
Under this program, which is voluntary, owners of farmland are paid the difference between their land’s fair market value and agricultural value. In exchange, farm owners must agree to a permanent deed restriction that preserves the land for farming only. The purpose of the program is to prevent farmland from being developed, thereby making the state’s agricultural industry more sustainable.
It’s that very program, Griggs said, that made his farm eligible for a lower tax rate. "It is preserved open land," Griggs told CBS News Boston. "It became just unsustainable when you tax so heavy. You run out of money."
Part of the confusion stemmed from the fact that Billerica thought Griggs’ farm was running more like a retail space. The town claimed that Griggs was selling flowers and imported vegetables to supplement his income and compensate for crops lost during summertime droughts. But Griggs insisted he was doing no such thing.
Dina Favreau, a member of Billerica’s Select Board, started looking into Griggs’ situation prior to joining. And as she explained to CBS News Boston, parts of Griggs’ land were being taxed erroneously, leading to a higher bill.
"This part of the land and the parking lot was actually being taxed at commercial rates, which was completely incorrect," she said.
The town voted to approve a reassessed value on Griggs’ farm, and based on that new assessment, it turned out that Griggs was not only current on his tax obligations, but he was actually owed almost $31,000.
Griggs told CBS Boston he plans to use that refund to improve and keep up with operations on his farm.
"We will probably purchase some supplies and pay some bills," he said. "Hopefully we will be able to run some of the fields a little better now."
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What to do with an unexpected windfall
The fact that he was owed $31,000 as a refund for overpaid taxes may have come as a happy surprise for Griggs, and reinvesting that money in his farm makes sense for him. But it’s important to know how to manage a surprise windfall if something similar were to happen to you.
Emergency fund
One of the first things to do is assess your emergency fund, and if you don’t have one, creating one with the windfall you received is a great idea. It’s important to have enough money in savings to cover at least three months of essential bills in case of an emergency, which could include losing your job.
A January 2025 survey by U.S. News & World Report found that 42% of Americans do not have an emergency fund. If your emergency cash savings need a boost, or you’re starting off with none, that should take priority.
Pay off your debts
Next, assess your debt. You don’t necessarily have to use a windfall to pay down part of a mortgage — since that’s a loan you’ll probably carry for a long time — and despite recently elevated rates, the interest rate on your mortgage may still be reasonable. But if you’re carrying expensive credit card debt, or a personal loan with a high interest rate, those are debts that you should aim to pay off sooner than later.
As of the third quarter of 2024, the average consumer credit card balance reached $6,730, according to Experian. The average personal loan balance, meanwhile, was $19,014. Eliminating or whittling down a similar balance could not only save you money on interest, but it’ll also likely relieve some of your financial stress.
In addition to covering some of his operating costs and buying supplies, these are things Griggs might consider using his tax refund on. Chances are he spent money on legal fees in the course of fighting his property tax assessment, so he may have debt to pay off and/or savings to replenish.
Contribute to retirement savings
Griggs may also want to start thinking about retirement — not necessarily stopping work now, but rather, saving for a time in the future when he no longer feels up to the task of managing his farm. To that end, he might be able to sell his land and use the proceeds to fund his retirement, but it also wouldn’t be a bad idea to use some of his $31,000 refund to start or boost his nest egg.
That’s something you may want to do with a windfall once you’ve secured your emergency fund and have tackled high-interest debt. The more time you give a retirement nest egg to grow, the more savings you’re likely to have once the time comes to call it a career.
Consult a financial advisor
It’s also a good idea to consult a financial advisor any time you come into a windfall, and that’s something Griggs may want to consider as well.
Unlike salaried employees who can look forward to the same paycheck every month, business owners can see their income vary. And in an industry like farming — where weather and other factors outside of one’s control have the potential to impact production and income — it’s important to plan for dry spells.
With this in mind, it would be wise of Griggs to consult a financial professional to see how one might suggest using his $31,000 windfall.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
