Buying a 10+ Acre property and Act 319

If you are considering purchasing a property of over 10 acres, and no intention of subdividing it or developing it is worth taking a closer look at Act 319 and the future tax savings you could enjoy.  Act 319 of 1974 is commonly referred to as the Clean and Green Act.  The enrollment period is from March – June 1 each year so do your research early and decide if this is something that would benefit you.  As an agent in this area who deals with larger land parcels I’ve personally put one property in Act 319 and enjoyed the reduced tax benefits.  Should you sell the property at some later point to someone who has different use and goal who wants to take the property out of Act 319, that can be done through the payment of 7 years of rollback taxes.  Here are some general rules and a link to take you to the specifics on the Chester County program:

• 10 Acres minimum or $2,000 gross agricultural income.
• Only land assessment is affected.
• Land assessment is based on the agricultural use value of the land according to the productivity of the soil.
• Act 319 assessment remains on property in perpetuity or until a change in use occurs.
• Owner may include more than one deeded parcel under an application – parcels must be held in common ownership and must be contiguous.
• The entire tax parcel must be enrolled in the program. No exclusions of any portion from any tax parcel are permitted.

Link to Chester County program:         http://dsf.chesco.org/chesco/cwp/view.asp?a=1484&q=573695

Market Realities – Is it All Media Hype?

I think everyone in the Real Estate industry and many consumers are tired of the doom and gloom out there. Is anyone thinking “self fulfilling prophecy?” There is no doubt that there is trouble in the Real Estate Market but in the area of Northern Chester County where I focus the news is not all bad. Prices are holding, sales volume is down yes but there are still Buyers and Sellers in the market. One of my favorite articles which I felt was right on is “How Matt Lauer is Wrecking the Philly Real Estate Market” – no offense Matt! http://www.phillymag.com/articles/how_matt_lauer_is_wrecking_the_philly_real_estate_market/

Australian crocs hit by cane toad ‘wave of death’

Pit a cane toad against a freshwater crocodile and who wins? Although the croc eats the oversized amphibian, it seems the toad has the final laugh.

Dead freshwater crocodiles in Australia’s Northern Territory were once a rare sight. But since 2005, locals have witnessed mass die-offs. Researchers now say the toxic and invasive cane toad (Bufo marinus) is to blame.

Two surveys, in 2005 and 2007, suggested that the mass croc deaths have progressively moved inland from the mouth of Victoria River, at a pace that matches that of the cane toad invasion. The toads secrete a milky-white toxin which is lethal to many predators from glands behind their eyes and on their backs.