Posted by Ultradog MN on March 06, 2008 at 14:44:06 from (63.224.14.37):
In Reply to: What's it worth?? posted by wyod on March 06, 2008 at 11:56:33:
Sorry to hear this is happening to you. It's just too bad. One thing to think about is how that development is going to affect your property taxes. If they put up a bunch of fancy McMansions and each one has their ranchette it is going to dramatically increase the value of your land and your tax base. With or without selling the easement you might find that the property taxes on your dream home will make it cost prohibitive for you to stay there. Here in MN they have a "Green Acres" law that allows land still in agricultural production to remain in a tax catagory that is Much lower than the developed land around them. The hitch is that it has to have been in production for some years already to qualify. I don't know how much of an emotional investment you have in that land but I'd be leaning towards selling out. NO easements! If they want the easement they've got to take it all. $10K per acre plus they have to call the movers to haul your stuff off the place to your new land. You will have to consider the capital gains taxes when you sell the place but if you buy another property of equal or greater value within 2 years you wont have to pay. Best of luck on this. And keep us posted on what happens.
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