Farm Island

[chasedawg]

Originally Posted by ursa minor

I’ve heard that the property may be in “current use” tax status. From my understanding that would mean either the seller or the potential buyer would need to come up with the difference between the reduced current use tax rate and the residential rate from the time the current use variance was granted. Depending on how long the island has been in “current use” that could be a tidy sum.

Good thought....The potential buyer is going to continue with the "current use" status. From what I understand it will be a tree farm to gain "current use" status. Many trees will be removed especially the umbrella trees that have been there for 90 years.