A recent 1,500-acre property purchase in lower Bledsoe County has opened up discussions about property usage, development and property tax values among local residents. The Fields, a residential fly-in community, has presented a proposal that includes an airstrip, commercial space for a restaurant, farm to table market and other commercial development with the prospect of residential homes with airplane hangers priced in the $500,000-plus price range, has many asking how the development will affect property taxes in Bledsoe County.
The project has the potential to drip lump sums of cash quickly to the county in the form of rollback taxes from the 1,500 acres, currently a greenbelt assessment. And in the longer term, raising more money annually as the premier residential homes are assessed and taxed according to their increased values. Developer Craig Fuller has indicated within the next 5 to 10 years, the development could add $500,000 to $1 million to the property taxes.
For more see the March 31 issue of The Bledsonian Banner.