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Old 10-16-2021, 08:46 AM   #46
longislander
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Quote:
One negative to placing land in current use is its resale value. Because the 10 year tax window pay back. It’s value at time of sale does get reduced
Not sure what you mean by "10 year payback window".

Resale value is determined by markets, not laws.

If you're alluding to the 10% "penalty" of taking land out of current use (doesn't have to be a sale), it is commensurate with land appreciation and market conditions. The 10% penalty is based on the present value determined by the town assessing office, which can be challenged (good luck).

In my humble opinion resale value will rarely be reduced. Quite the opposite. The 10% "penalty" for taking property out of current use will be higher as time progresses, as property value increases.

Current use runs with the property, including selling to others. Investments or "deals are in the eyes" of the investor.
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