I just discovered a financial structure where you can buy a home (mostly mobile homes it seems) and you lease the land for between $450 and $650 per month. With this lease arrangement your water, trash, and sewer fees are included.
Advantages? You own the home but don't have to pay property tax on the land (at least not directly - there's no such thing as a free lunch).
Disadvantages? 1. You basically have to pay "rent" forever and 2. What if they try to raise the lease amount? You might essentially be forced to sell if it goes up too much.

Thoughts?

I think the biggest downfall is the depreciation on your home.

Pros- less cash and debt up front
Cons- can't control future and you have a depreciating home.

I've never been a fan of leasehold ownership.

For example if you have a subacreage leasehold situation for a property with a Market Value of $500k, and typical site:value ratios are around 22%, then you're going to pay taxes on around 350 - 400k for the improvements, which equates to around $5,950 - $6,800 in annual property taxes at a 1.7% total rate, and that's before rent...so not being taxed on the land may not save you much in that scenario.

For acreage properties if you're running a hobby farm, bailing quality hay for sale, or generating income etc. It can be worth it; but it depends on what is allowed in the contract.

In Texas the absolute best situation is to have qualified 1D1 land, in my opinion. If you can pony up the cash for ~10-20ac. get a wildlife or Ag exemption you're going to be paying almost nothing in taxes on the site. I've seen people with $2MM+ in land, who are paying on $50k in Market Value after exemptions. Pretty sweet. Bee's are another potential good one for an exemption.