Lakeport Landing business

[codeman671]

Originally Posted by secondcurve

Not true. If Irwin outbids Lakeport by a couple hundred thousand dollars the property tax bill will be calculated on the higher sales price regardless of what is done with the building.

Not true. If someone buys a property with a building on it and rips down the building the value is worth less and can be reassessed accordingly. Sales price and assessments don't usually match 100% anyhow. My home is proof of that, so weren't my last two. In fact, probably every one I have ever owned shows the same.

From Meredith Weekender's post above it appears that Laconia already thought of this and put in a clause to prevent them from altering the property in a way that would reduce the tax base.

[secondcurve]

Originally Posted by codeman671

Not true. If someone buys a property with a building on it and rips down the building the value is worth less and can be reassessed accordingly. Sales price and assessments don't usually match 100% anyhow. My home is proof of that, so weren't my last two. In fact, probably every one I have ever owned shows the same.

From Meredith Weekender's post above it appears that Laconia already thought of this and put in a clause to prevent them from altering the property in a way that would reduce the tax base.

I stand corrected. Thanks