Brewster Academy gets donation

fatlazyless · 12-17-2008, 08:12 PM

Based on what I pay to Meredith of about $34,000/acre, then 11 acres could bring in $374,000. in annual property taxes to the town. So, by transferring it to a school for twelfth grade and below, the land becomes property tax exempt.

No doubt there is more to this than my example because every situation is unique, but it will be interesting to get an accurate and informed view on this angle.

Will the land become a part of the Brewster Academy, or will Brewster just turn around and sell the land to a third party and then add the money to its' endowment, or something?

12-17-2008, 08:12 PM	#4
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,740 Blog Entries: 1 Thanks: 300 Thanked 1,007 Times in 735 Posts	Based on what I pay to Meredith of about $34,000/acre, then 11 acres could bring in $374,000. in annual property taxes to the town. So, by transferring it to a school for twelfth grade and below, the land becomes property tax exempt. No doubt there is more to this than my example because every situation is unique, but it will be interesting to get an accurate and informed view on this angle. Will the land become a part of the Brewster Academy, or will Brewster just turn around and sell the land to a third party and then add the money to its' endowment, or something? __________________ ... down and out, liv'n that Walmart side of the lake!