Working class boating crunch is here.

self | April 9, 2006 | Capt. Tom

[Hatteras]

I agree, everybody has their price and when you open up an envelope and see a dollar figure worth more than you have ever made or even seen in your life... Well, personally, I'd have to pull out the old atlas and start researching where my next move will be.

I believe in most of these instance, the majority of the property owners are seniors whose roots are embedded deep in that soil. In most cases though, it won't take much of a salesman to inform them that they may have only 10 to 20 good years left and why not do some traveling, buy that big yacht, etc... Besides, that once, quaint little village turned popular resort has meant tax rates that compete with the average current mortgages.

One solution I have seen that I have some personal knowledge about is conservation easements giving the property owners tax breaks in exchange for agreeing not to develop the property (i.e. condos, etc). In the one instance I am familiar with, the owner of a large piece of property near St. Michael's Maryland (Eastern Shore) maintains all rights and privileges (hunting, fishing, farming, etc...) and has three parcels set aside for beneficiaries to build future homes. The land however, can not be subdivided and sold to commercial entities. This fellow bought the initial property on a point overlooking a scenic river years ago (late 1950s) and as the land surrounding him became available he bought all that up too. The environmentalists love this guy. His thinking was that he just wanted the ability to pick his neighbors. I guess he decided that he didn't need any neighbors after all and finally penned a deal with the World Wildlife Foundation. Now, I am not privy to his finances but he did say that he gets a substantial tax break.

He told me that he kept thinking that he felt as if he was making a deal with the devil but in the end he had to decide what was best for him and his family and when his days are over, if the family wanted to, they could sell the property privately and still make a few million even with an easement in place.

[Sam Cree]

Yes, I've heard of the conservation easements. I guess they are a good compromise, at least, and one that has the advantage of preserving something of the character of these old properties. Some folks are taking advantage of them where I grew up.

I wonder, do these easements trump condemnations by municipalities and local governments who wish to turn your property over to a developer, a la Kelo? I think they may.

[Capt. Tom]

All I can say is, I'm very happy I did not go for the 40' Searay.

Be even more happy now. Just in time for the upcoming boating season.

Iran fears push oil price above $70 RTE ^ | April 14, 2006

Posted on 04/14/2006 5:40:52 PM EDT by West Coast Conservative

The price of Brent North Sea crude oil broke through $70 a barrel for the first time on Thursday evening, fuelled by simmering tensions between Iran and the international community.