Real Estate
The average year-round resident in Tisbury will pay an extra $110 in property taxes next year, following a successful push from town businesses to shift the tax burden off commercial property.
A nonresident property owner whose Vineyard Haven home is of average value — $860,425, according to the town assessors — will see an even bigger increase of almost $138, while business properties of the same value will see their taxes decrease by some $1,015.
BY JULIA RAPPAPORT
A 2003 graduate of the Martha’s Vineyard Regional High School who works as a dispatcher for the county sheriff’s department was one of three lucky Islanders who won an affordable Edgartown home in a town lottery this week.
“I’m too shocked to think,” said a teary Maria Williams following the drawing held by Edgartown selectmen in the Baylies Room at the Old Whaling Church on Tuesday.
The real estate market on the Vineyard had already begun to see a sharp downturn this year, and the recent collapse in global financial markets and turmoil on Wall Street certainly has not made things better.
Statistical evidence gathered from Banker and Tradesman online, which compiles real estate figures from sale documents, shows the Dukes County housing market is off sharply from last year, with sales down almost 15 per cent and prices off by more than nine per cent.
The Martha’s Vineyard Land Bank Commission held an open session on Monday seeking public comment on its properties and management plans. The meeting was held at the Vineyard Transit Authority second floor office at the airport business park.
One person attended: Bill Straw of Vineyard Haven, who suggested the land bank move up on its priority list the acquisition of properties that help in the movement of people along the side of roads, for example bicycle paths.
Bill Croke Joins Firm
Bill Croke has joined Hughes & J.C. Murphy Real Estate in Edgartown as a sales associate.
A seasonal homeowner for more than 20 years, Mr. Croke recently relocated to the Island with his wife Joan, the owner and manager of a successful event management firm.
Housing Block Grant
Oak Bluffs and Tisbury have been awarded $615,909 for housing rehabilitation through a federal community development block grant announced by Gov. Deval Patrick. The towns will use the money to rehabilitate 18 housing units.