Property Tax Case Reveals IRS Probe
Ian Fein

Property Tax Case Reveals IRS Probe

Expert Appraiser for Town Discloses Internal Revenue Service
Investigation of Herring Creek Farm Transaction

By IAN FEIN

BOSTON - The expert appraiser hired by West Tisbury assessors
revealed during cross-examination this week that the federal Internal
Revenue Service is investigating the 2001 Herring Creek Farm real estate
transaction in Edgartown and an ensuing charitable tax deduction that
was based largely on his appraisal of the property.

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Town Defends Tax Challenge
Ian Fein

Town Defends Tax Challenge

West Tisbury Assessors Dip Heavily Into Legal Spending Coffers;
Methods to Determine Values Come Under Close Scrutiny

By IAN FEIN

A pending property tax appeal in West Tisbury has triggered mounting
legal bills to defend the assessors' position in a complex case
that challenges their methods for determining property values.

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Assessors in Edgartown Flooded with Requests for Property Tax Relief
Ian Fein

A property tax revolt is quietly brewing on Chappaquiddick, where a large group of landowners have banded together and hired an attorney to challenge their latest property assessments.

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Town Appraiser Puts High Price on Land
Ian Fein

Town Appraiser Puts High Price on Land

West Tisbury Expert Takes the Stand in Protracted Graham Tax
Hearing; Values Property at $64.5 Million

By IAN FEIN

An expert real estate appraiser hired by West Tisbury assessors last
year estimated the total value of 235 acres owned by town resident
William W. Graham at $64.5 million, significantly higher than the
town's original assessments.

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Conservation Tax Law Has Few Takers on the Vineyard
Mike Seccombe

About 130 acres of land on the Vineyard was permanently protected from development under new conservation restrictions in 2007, according to state government figures.

The relatively disappointing result was in spite of generous tax incentives — which expired at year’s end — and in sharp contrast to figures for the state as a whole.

Statewide, 266 new conservation restrictions, covering a total area of 11,200 acres were signed off by the secretary of the Executive Office of Energy and Environmental Affairs, Ian Bowles.

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Vision Appraisal Defends Its Methods on Tax Assessments
Jack Shea

A growing group of West Tisbury taxpayers, furious at their property tax bills and concerned about how the taxes are computed, received little solace during a stormy two-hour informational meeting with Vision Appraisal Technology on Tuesday evening at the Howes House.

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Pondfront Owners Shocked at Tax Bills
Jack Shea

A dozen stunned West Tisbury property owners crowded the normally quiet town assessors meeting this week to question their assessments and tax bills, which have more than doubled this year.

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West Tisbury Tax Abatements Soar as Applications Increase
Jim Hickey

The town of West Tisbury, a breeding ground for property tax rancor in recent years, had a record high $289,000 in tax abatements in 2008 based on approximately $68 million in total adjusted property values.

While town officials say the high number of abatements can be tracked directly to the current triennial real estate revaluation and a spike in waterfront property values, some residents insist that they signal a continued level of discontent with the current assessment system and the company hired to help conduct the revaluations.

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Tisbury Taxes Rise Sharply
Mike Seccombe

Tisbury property taxes will be sharply higher in 2011, largely due to falling property values and the extra expense of the town’s new emergency services building.

For fiscal year 2011, residential tax rates will go up 14.3 per cent compared with the current year. Commercial rates will go up 14.6 per cent.

And rates are unlikely to come down significantly for several years, an outlook which prompted selectmen to suggest the town would have to hold off on significant further infrastructure projects in the near future.

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Islandwide Assessments Show Uneven Real Estate Recovery
Mike Seccombe

A rising tide lifts all boats, they say. But the old aphorism about the economy apparently does not hold true for Vineyard real estate, as the most recent property valuations show.

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