Asking Price:  $1,285,000

5 bedroom/3 bathroom house located on a very private street off Cliff Road.  Spacious indoor and ourdoor living.  Mature plantings.  Convenient to Step Beach, Jetties Beach and Town.  Must be seen to truly understand the opportunities.

Recently, NAREB, the Nantucket Association of Real Estate Brokers, invited the Nantucket Tax Assessor to make a presentation on the in’s and out’f of the tax rate and assessments.

Rather than take all your time with the complete presentation I thought I’d give you some headlines:

NANTUCKET ENJOYS ONE OF THE LOWEST TAX RATES IN AMERICA!

2011 Tax Rate 

 Residential                         $3.58 per thousand          

Open Space                         $3.42 per thousand           

Commercial                       $6.41 per thousand

Tax breakdown between seasonal and non-seasonal residents

10% paid by year around residents

20% paid by island owned investment property owners

70% paid by second home and investment property owners (non-Nantucket residents)

Full time, primary, owner occupied homes enjoy a residential exemption.

By law that exemption can only be 20% of the average residential home value.  In 2011 that is $1,524.960 for a deduction of $304,992.A

All assessments are a rear-view mirror on the market.

Every three years the market revalued.

2011 was just completed based on 2009 sales.

2013 will be the next  revalue based on 2010 sales.

If you have further questions or wish the complete presentation, please contact me at marion@countryvillagere.com

(source:Nantucket Tax Assessor)

]]> http://www.countryvillagere.com/blog/2007/05/23/fed-cup-coming-to-stowe/feed/ 0 http://www.countryvillagere.com/blog/2007/05/09/finding-an-agent-to-help-you-buy-real-estate/ http://www.countryvillagere.com/blog/2007/05/09/finding-an-agent-to-help-you-buy-real-estate/#comments Wed, 09 May 2007 13:39:28 +0000 Xander http://www.countryvillagere.com/blog/2007/05/09/finding-an-agent-to-help-you-buy-real-estate/ Find a good buyer’s agent

What buyer’s agents do: When you go to an open house and meet a real estate agent showing the property, that agent represents the seller’s interests. So you might be better off using a buyer’s agent whose job is to represent your interests. In addition to showing you homes that meet your criteria, a buyer’s agent can help you negotiate a contract and may help you get a better deal on title insurance.

Ensure your interests come first: A buyer’s agent typically shares the sales commission with the seller’s agent. So keep in mind your agent may want to push some houses over others if they offer a higher commission or bonus on top of the commission to get a deal done. That’s why Tom Early, spokesman for the National Association of Exclusive Buyer Agents, told Money Magazine that buyers should ask their agents to sign a contract before looking at houses that stipulates that any bonus being paid by a seller be used to pay closing costs. (Here are other ways to make sure you get the best house for the best price.)

Source – CNN.com