- Oct 18, 2009
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Backstory.....we were "given" 2.86ac of land on Cape Cod 18 months ago. The property included a 2br, 1ba, 1086 sq ft house and a working dog boarding kennel. (The property was my wife's family's property...what's left of it anyway. Originally there was almost 10-12ac 50 years ago, but this is what's left after subdividing parcels over the years.)
Anyway, he passed last December and we both decided at that point, there was little to keep us here (her mother passed ~2 years before that.) We both hate the snow Mass. has and consequently plan on moving back down south. So, we're selling the property cheap just to get out quickly, that and to account for the house's condition---horrible due to neglect and her dad's 50 years of hoarding.
The upside is the land's been free and clear for 40 years, so what we're realizing in the sale is all ours, and in cash. We should exit the proceedings with a stack of 2,500 $100 bills and it's tax free, at least according to our attorney since we're selling below the assessed value, which is our property's basis.
Damn, finally getting out of the cold. I haven't been warm since I moved up here. And while some around here complain about taxes, what we've found is that the tax rates here aren't nearly as bad as other places, including SC and GA, depending on locale. Our property taxes are only $1900 per year and a house we've been considering in Anderson, SC (house appraised at $117K with 1ac of land) has property taxes of a little over $4K this year. This surprised us as Mass's health care system and school systems are vastly superior to anything in the south, outside ATL. (Thank goodness for ATL....it's sorta forcing GA to become more "enlightened" and cosmopolitan vs. the rest of the southern states.)
Anyway, sucks to be stuck up here in MA for the rest of y'all.....bye!
Anyway, he passed last December and we both decided at that point, there was little to keep us here (her mother passed ~2 years before that.) We both hate the snow Mass. has and consequently plan on moving back down south. So, we're selling the property cheap just to get out quickly, that and to account for the house's condition---horrible due to neglect and her dad's 50 years of hoarding.
The upside is the land's been free and clear for 40 years, so what we're realizing in the sale is all ours, and in cash. We should exit the proceedings with a stack of 2,500 $100 bills and it's tax free, at least according to our attorney since we're selling below the assessed value, which is our property's basis.
Damn, finally getting out of the cold. I haven't been warm since I moved up here. And while some around here complain about taxes, what we've found is that the tax rates here aren't nearly as bad as other places, including SC and GA, depending on locale. Our property taxes are only $1900 per year and a house we've been considering in Anderson, SC (house appraised at $117K with 1ac of land) has property taxes of a little over $4K this year. This surprised us as Mass's health care system and school systems are vastly superior to anything in the south, outside ATL. (Thank goodness for ATL....it's sorta forcing GA to become more "enlightened" and cosmopolitan vs. the rest of the southern states.)
Anyway, sucks to be stuck up here in MA for the rest of y'all.....bye!
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