Quail Creek Reservoir Topics: Taxes on Leased Lots

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	Name:	Feb -
	Subject:	Taxes on Leased Lots
	Date:	5/16/2005 10:04:00 PM

Thanks Osms for answering the question on who pays the taxes on leased lots. I had not seen a definitive answer on that question until your post. I bet your lot is not appraised anywhere near its market value. Just a guestimate if it were apprasied for 250 thou, it would be around $700 a year property tax in Alabama. In Virginia roughly two thousand plus a year. Both States have slightly higher or lower amounts based upon the county the property is in. That is an assumption on my part that they assess taxes the same on land as they do on improved property. Last time I looked Alabama had the second lowest property tax in the US with only Arkansas being just slightly lower on the average. It is a bargain and deductible on both your Federal and State Income Tax. Most of the above is guestimates and assumptions on my part.

Do you mind giving a general or ball park figure as to how much you won your lease for? The guestimate on winning bid amounts has been bantered back and forth on the Forum in the distant past.