$6,895,000 · FARM-STATUS MULTI-HOME ACREAGE
Both homes are also available for individual purchase. Contact us for details.
Exceptionally private 12.29 acres with two warrantied homes (one complete, one mid-build) backed by forest and Prospect Lake Park. Quality pasture land is tenanted by a local farmer encouraging enjoyment of a large parcel of land without the associated upkeep.
Farm status not only brings this property below the luxury tax bracket; it exempts it from most of BC's new property transfer taxes (PTT).
Portions of the property have been dedicated to remain in a natural forested state and have been so noted on the property title. Under BC assessment laws, the value of these lands is exempted from PTT and those areas also qualify for ongoing reductions to residential property taxes.
Enjoy the benefits and quiet of country living with someone else doing the farming while saving tens of thousands in government and property taxes. Farm status also allows for construction of additional buildings; versatility of this nature is rare.
Planted on the southern half of the plot, two custom-built modern ranchers boast premium fit and finish inside and out including engineered radiant heated flooring, quartz counters, gourmet appliances, wood accents, inset lighting, as well as large windows and sliding doors. Multiple west-facing patios enjoy views of the pasture framed by forest.
Both residences feature a finished attached garage with additional storage room. while a separate double garage is afforded for extra vehicles and equipment.
Less than three kilometres from Prospect Lake Golf Course, the property is hidden from the road, and offers a short commute to Victoria, BC Ferries at Schwartz Bay, or Victoria International Airport in Sidney.
An estimate of the initial tax savings on purchase is approximately $70,000 and permanent ongoing property tax relief resulting from farm status is approximately $8,000 annually.
*Verify all above claims with your Realtor or legal counsel
**Interior images show completed home. Home under construction will have similar construction and style. Exterior images show both the completed home, and artist rendition of home under construction.
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|Posted||August 14, 2019|
|Expiry||September 13, 2019|
|Details||New, Commercial Seller|