Neighbors watch the neighborhood. Blogfinger.net
From Natalie of Ocean Grove:
As a newcomer to the Grove, I just received my property tax assessment for 2018. Our property was assessed at $200,000 for the building and $310,000 for the land. My taxes will be about $10,000.00 in 2017
I realize that arrangements such as ours, with the building owned by one person and the land by another, can be found elsewhere. But is there any legal precedent for our paying property taxes on land that we do not own?
As you all know, we also pay a lease fee to the CMA for being allowed to have our home on their land, so it is clear as to who owns the land.
Why doesn’t the CMA pay the land taxes?
Then, when you sell your house, they can realize the appreciation on the land. Now we get to realize the appreciation, so maybe it doesn’t make any difference.
But do any of the BF readers know about legal precedents in this regard?
AL JOLSON with an alternative to high Neptune taxes: