Quote:
Originally Posted by granitebox
The valuation is:
$20,000,000/4515 feet frontage = $4430/frontage foot
or
$20,000,000/95.38 acres = $209,687/acre
Both of which seem fairly reasonable given other sales in the area and probably which will drive also drive a quick sale.
From the towns perspective - I'm betting they are happy to get this parcel back on the tax rolls in any form or fashion - can anyone calculate the property tax on just the land forget improvements for now.
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In 1965 my grandfather chose island waterfront as he could afford the 35 dollars a shore frontage foot for a 1/2 acre lot. Mainland lots were 110 dollars a shore front foot for a similar sized lot. The real difference is that he was a semi retired school district janitor who was a careful saver. I dont think we will ever see that again careful saver or not.