The sale you've all been waiting for: 545 Indian Field Road's price has been slashed 10% (UPDATED)
/Did I say $57,995,000? No, I meant $51,995,000!
It’s interesting that the town appraises this place at just $14,135,900. That still generates an annual tax bill of $115,000, mind you, but I’ll bet the selling agent's opinion is closer to the actual value than our appraisers’ is.
UPDATE: Reader “TraderVic” provides this explanation:
Speaking of the $140m Indian Field Rd sale: I inquired to the Tax Collector about that very low assessment awhile ago (when it was still owned by Rudie). As I recall, the very low assessment was because it was pledged to be non-developable acreage, but if it ever WERE to be developed into multiple sites, the town would not only greatly ratchet up the valuation, but also would apply a back tax (payable by the current owners) to compensate the town.