“So... Dumas Industries is big, but not big enough to take on the Goddess, and Dumas knows it. So he’s trying to cozy up while he can.”
“Not to mention that organics are huge right now, Mags. ‘Lucrative’ doesn’t begin to cover the deal you guys are cooking up,” Kieran added.
Maggie shrugged. “I know you probably won’t believe this, but that doesn’t really matter to me. As long as I have enough to get by, I’m happy. Spencer knows that, though he never could understand it. And he knows I’d never sell out, especially to him or his company.”
“True. But a seven-figure deal does matter a lot to Dumas, which is why he had to get creative. You won’t sell, so he’s got to go around you and get what he wants a different way.”
“Sorry, Ian. I’m not following you. What other possible way is there?”
“How does property change ownership? Death and divorce, mostly, but neither is applicable here. That leaves hostile reclamation – things like foreclosure or tax default auctions.”
“But this property isn’t mortgaged. And I pay the taxes in full and on time every year.”
Ian turned his blue gaze to her, and she felt a sudden chill. “Do you?”
“Of course I do. I’ve got copies of all of my returns. I can get them - ”
“Not necessary,” Ian said, waving his hand. “We’ve already been through them all.” Maggie was inherently glad at that moment she’d never cheated.
“Then you know I’m telling the truth.”
“Relax, Mags. No one is accusing you of cheating Uncle Sam.”
“Then what are you saying?” Michael asked somewhat impatiently.
Shane cleared his throat. He was perhaps the quietest brother Maggie had met so far, with the exception of the eldest one, Kane. Though he didn’t say much, Maggie always had the impression he was soaking in everything around him. Michael had confided to her once that Shane was the equivalent of a human computer – he had almost instant recall on everything he’d ever read or seen, as well as an inherent gift for reading people.
When he spoke, it was with a soft, thoughtful voice. It had an immediate soothing effect, very much like Michael’s. And despite the topic, Maggie found her attention drawn toward him.
“Okay,” Shane began. “There are two things that are really important here: tax assessments and zoning. First, understand that the taxes you pay are based on the county’s assessment of how much your property is worth. Valuation obviously changes over time, depending on any number of factors – location, development, the local economy and job market – you get the idea. For this reason, reassessments occur periodically, like, say, when a house is bought or sold, or when someone takes out a second mortgage.”
Maggie nodded in understanding.
“But sometimes a house or land can stay in the same family for generations, like in your case, Maggie. The result is that the taxes you pay are based on a fraction of what this place is currently worth. For this reason, some counties – like Tusquannock - schedule periodic reassessments – say every decade or so – to keep the tax base equitable.”
“My taxes have remained pretty much the same since before my grandparents passed,” Maggie pointed out. “I did their taxes for them for years.”
“Exactly. And that’s where the zoning comes in. Maggie, your two hundred acres is zoned as ‘prime agricultural’, which means exactly what it sounds like. The land you hold is ideal for farming, which is probably why your family was so successful at it over the years. Since you assumed ownership, however, you have not claimed any agriculturally-based profit or loss.”
“No,” she agreed slowly. “Though there hasn’t been very much active farming for quite a while. My grandfather had his little roadside stand and my grandma had her remedies, but they weren’t dependent on the income at that point.” With a natural talent for organization and figures, Maggie had set them up with comfortable retirement accounts. It wasn’t much, but it was enough that they could enjoy some of their golden years.
“It’s pretty hard to operate a farm single-handedly,” Michael pointed out.
“Not to mention Maggie has held employment outside of the family farm. She’s been paying taxes on every penny she makes just like the rest of us,” Kieran said in her defense. Maggie’s heart warmed with the way they all seemed to rally around her. She’d never had that as a child, but as Ian was constantly telling her, she’d get used to it eventually.
“True. But... any property labeled as ‘prime agricultural’ is given special consideration. The county, you see, receives federal subsidies for land that is actively farmed, as opposed to land that is sold for things like subdivisions or to businesses. It’s a way to keep the land green and discourage overdevelopment. The county passes a percentage of these boons to the landowners. Some of these perks include a lower tax rate than residential or commercial properties, as well as an exclusion from the mandatory reassessments.”