Quote:
Originally Posted by ishoot308
I don't have that info handy but I believe Gilford's tax rate is $18.00 per. I remember a few years back when we were looking to purchase a slip (they were cheaper then!) between the condo / yacht club / marina fees and the taxes it cost almost exactly the same as renting and that is if you pay cash. If your taking a loan out on the slip you must now add in interest paid.
Now I understand if purchased you have something that is owned physically that you could eventually sell maybe at a profit eventually but I just couldn't justify the numbers at that time. To me we were better off renting and using the cash we would of paid towards the slip and invest it wisely to get some kind of return on it.
Obviously buying it at the right price at the right time in the right location makes all the difference. Some here have done just that and I am sure they will chime in.
Good luck!
Dan
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It is based on the municipal tax rate and the valuation of the slip(condo).
You can look at Gilford tax maps here. If you search for 73 Weirs Road for example, you can see the valuations of the slips at MVYC and historical sale prices.
http://gilford.univers-clt.com/index.php?reset=true
10-25-2017, 01:13 PM
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