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Originally Posted by fatlazyless
That's all just conjecture about what will get built here, so just have to wait.
Off the top of my head, just guessing here that for the Town of Alton, a property has to be valued at about $750,000 to receive an annual property tax bill total of $10,001. or more. Probably, condo town houses would be way below $750,000. but maybe not?
You never know but maybe the big mansion house gets re-constructed inside into three or four smaller condo units ….. is possible? And they could call it The Big House at Long View along with a row of townhouses out back, in what is now a large grass lawn area with some super nice waterfront.
Working it with a construction loan from a friendly banker for 12%/yr?
To see it up close, go to a map for 'clay point, Alton NH' and snoop around with Google Earth.
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These are second or third homes for most people so I'm sure all their property tax bills combined would exceed 10K. So I doubt this 10K write off limit would have any affect on prices at all. Rich people want what they want because they have the means.
Besides, President Trump has given the rich other tax breaks that will more than offset that deduction cap.