[Leica] IMG: Harbors #38

[ricc at mindspring.com (Ric Carter)]

NC requires (at the behest of local government and real estate  
lobbies) tax revaluation of all property at least every 7 or 8 years.  
Valuation is to be market value.

Subsistence fishermen raised in the trade live on water frontage long  
in the family (paid for long ago). Revaluation of land to what a  
millionaire developer would pay to put condos on it, pushes him to  
the point that he cannot pay his taxes. He HAS to move. The developer  
pays him below value because he is in a bind. He must now rent space  
to moor his boat. he is soon out of business. Luckily, with their  
just increased tax revenue, the local government can now afford to  
pay the needed unemployment and welfare he now requires.

The old reverse redistribution of wealth.

Luckily for everyone, he never voted in the first place.

Photographers now get cookie cutter condos and motels instead of  
scenic docks.

hi ho

ric



On Jun 28, 2007, at 5:18 PM, Hugh Thompson wrote:

> Ric - at least something is happening to upgrade the area - end of  
> an era I guess