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TOPIC: 100

100 3 years 8 months ago #27584

I purchased some land last year and there had been dispute over who would pay the \"roll back\" taxes.

For those that don't know what roll back taxes are here's how it works. If someone owns 14.98 acres or more you can enroll it into the \"farm belt\" and your taxes are lowered. I believe that you must make $1,000 in agriculture per year or something like that. If the owner sells it then you are sent a bill for the difference in taxes for the past 3 years.

This is normally taken care of at closing and \"normally\" the seller pays it. Well, ours slipped through the cracks some where and we got the bill for roll back taxes on 26 acres. We wouldn't pay it and then the property accessors were claiming that we purchased 13.4 acres but, on the plot map and, what was used to calculate what we paid, showed 12.4 acres. After a long \"battle\" I finally got someone from the property accessors office out and we went over all the numbers and walked the pens. Turns out we paid for 12.4 acres but were deeded 13.4 acres due to a typo. That was some great and unexpected news.

Later that day I was also greeted with some great news in that the place we used at closing had held that money back from the seller but, hadn't paid it. Everything had been paid in full and all was now cleared up.

What makes this even better is that I now own over 100 acres. Which had a life long goal for me as a kid growing up and I done it before I was 35 years old.

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Re:100 3 years 8 months ago #27586

Hunter,

It sure sounds like you had a mess of confusion for awhile concerning the purchase but eventually came out on the shiny end of the stick! Congrats on acquiring and accumlating a total of over 100 acres before you were 35 years old! I would be glad to be able to purchase a couple of more acres than the one and two fifths acres that I now own. I looked at 10 acres of mainly mountain land considering borrowing the money for it in an refinance Loan for my' house and property. Although the 10 acres would be great to have for growing Ginseng as well as Deer and Turkey hunting, the house and barns on it are literally falling into the County Road and it would cost a fortune to demolish and remove them and then bulldoze and shore up the hillside where they sit. As it is, the hillside and road bank will continue to erode with the house and barns probably ending up in the road within 5 to 10 years.

Good luck with whatever plans you have for all of the land you have accumulated!


Frank

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Re:100 3 years 8 months ago #27593

Because of the lengthy confusion, you are now obligated to disburse all available good-for-ginseng land evenly among your fellow forum users.... Just Kidding!

Glad you got it cleared up, and to your advantage nonetheless!

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Re:100 3 years 8 months ago #27596

Hunter..

Congrats at reaching that goal of 100 acres. That is quite an accomplishment.

Too bad you had all that mess to deal with on the last bit you got but glad you got it straightened out.

I have a 30 acre place that I bought in the mid 90's and build my home on...

And (what a blessing)... my Grandfather and Father passed down to me 198 acres of land. Both of my places have some really nice timber on them and ginseng. Only a small fraction of both places will actually grow seng though... I figure it is about that way everywhere. This ole Ginseng is quite particular about where it wants to grow.

My large tract of land 198 acres was last select cut (14\" and up) by my Grandfather in 1979. It has some really nice timber on it now... ready for harvest but I am just waiting on timber prices to get a little higher.

Those few select places where seng will grow - I will probably never cut the timber - except may harvest a few nice trees here and there to open up a little more light for the seng.

Good luck with your spot and hope you can grow some seng on it.

TNhunter

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Re:100 3 years 8 months ago #27675

Hunter
Yer not a man till ya own land and a desiel truck.

Guy

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