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Got Land?

Not for long because the conservation groups are buying it all up, but that is great for all of us who love Nantucket (and like our property values to go up)! Nantucket has some of the strongest conservation foundations/efforts in the world. A group of great Nantucketers had the foresight to found the Nantucket Conservation Foundation in 1963-58 years ago! The Nantucket Islands Land Bank was the first program of its kind in the country, established by a special act of the Massachusetts Legislature and voted on at Town Meeting to essentially impose a 2% tax on every arm’s length real estate transaction-final vote, Yes: 446, No: 1. That is simply amazing, 446-1, to impose a tax! There are at least eight other legitimate, conservation focused groups on Island. Much of the conservation land is open for passive, recreational use, so if you get tired of eating at the world class restaurants, shopping at the world class shops, bathing at the world class beaches, then you can always go for a walk through the Tupancy Links, Sanford Farm, Middle Moors and on and on…

Recently, the Land Bank put under agreement a 66 acre parcel and the Sconset Trust put under agreement an abutting 53 acre parcel, which combined could be sub-divided into well over 50 building lots. So, although paying the 2% Land Bank tax can be painful in the moment, remember that tax is probably going to give you well over a 2% return in the long run. Nantucketers, seasonal and year-round, were and still are a smart bunch. Must be the water…