Rumors

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Bob-O
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Rumors

Post by Bob-O » Sun Feb 05, 2012 2:28 pm

I have heard from a close friend that is a resident, that a very powerful international group bought a vacant collage on the St Lawrence close to BL. They also said that they have been visiting BL and maybe snatching up properties on the north end. They said that a number of properties have been selling abnormally fast. I was just wondering if anyone has heard of this and if they can stop any of these rumors. Not that this is necessarily a bad thing but like to keep up on the news around camp. :?:
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Fishpro
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Re: Rumors

Post by Fishpro » Sun Feb 05, 2012 3:47 pm

Although I havn't heard of any such rumors I wouldn't be surprised. First it's our manufacturing jobs. Now it could be our life style. You could possibly find out if the rumor is true by checking with the realters in the local area. If the rumor is true we would probably see an increase in the taxes for our land and summer cottages. I have already seen this a few years back when a certain camp was sold for lot more than it was worth. Yep you guessed it - up went the taxes in the immediate area. When you get big money thrown around a totally different result occurs. Most of the private camps around the lake have been in the familys for years. Almost all the camps are owned by middle income people and they are doing all they can just to hold on to their properties. Lets hope this doesn't occur and Black Lake doesn't end up like Skaneateles and some other lakes where access is very limited due to all the land being owned by the rich or by outsiders. Catch & Release!

Phil
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Re: Rumors

Post by Phil » Sun Feb 05, 2012 4:50 pm

I would not be surprised either; but have not heard of such a property buying move.
By the way, I doubt public access to Black Lake could get much more scarce.
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Bassbuster
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Re: Rumors

Post by Bassbuster » Sun Feb 05, 2012 5:07 pm

Guys what am I missing here. What do you mean by powerful international group mean ? What are they after?

Fishpro
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Re: Rumors

Post by Fishpro » Sun Feb 05, 2012 5:45 pm

Don't know what (Powerful International Group) relates to. However when campsites and cottages are sold for more than they are worth, eventually the taxes will go so high that folks can no longer afford to hold on to their little piece of heaven. My Dad, bless his soul, once said that the only thing that would ever get our property away from the family would be because of taxes. He may well have hit it on the head as the current tax rate has passed all reality and keeps getting higher. I normally utilize my summer camp for around 20 days a year. I pay more on taxes there than I do for my home. Crazy! Again unless your rich we are in a loosing battle. Lets hope for the best. Would love to leave the cottage to my Grandson someday. Catch & Release !

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Re: Rumors

Post by Glenp » Sun Feb 05, 2012 6:03 pm

I selfishly hope the rumor is true! We are thinking of selling ours due to other obligations...oh well...all good things come to an end! I had heard just a bit of that as well. Although half the lies told in rumors are not true!

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Re: Rumors

Post by Bassbuster » Sun Feb 05, 2012 6:15 pm

I know what you're saying and why the concern, im just trying to find out what powerful intl group is buying p properties and what their :evil: intentions are.

bigmouth
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Re: Rumors

Post by bigmouth » Sun Feb 05, 2012 6:57 pm

I saw on the news about a month ago about an Asian group buying Mater Dei college and Sholettes restaurant. Not sure of any other activity.

492VS
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Re: Rumors

Post by 492VS » Sun Feb 05, 2012 7:08 pm

Is it this company? Temagami LLC. Last fall they dropped 1 Million for the islands west of Cedar Island and named it Temagami Islands. Located where Chippewa Bay meets the river. I've been following Black Lake property that has been for sale for the last few years and bought a place last fall. Not a lot of property has been sold recently, but a few decent places have went for 140K plus but not to this company.

Yanacocha
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Re: Rumors

Post by Yanacocha » Sun Feb 05, 2012 9:41 pm

Googled Temagami and Temagami LLC. Temagami LLC is registered in CT. as a fitness machine manufacturer or distributor, something or other. Temagami is a campground/fishing/hunting etc., located near North Bay, Ontario. I also googled Cedar Island and it is listed as a NY State Park, near Chippawa Bay, accessable only by boat. Now if the State of New York is selling off it's state parks we are in big trouble. Our taxes at our camp on Black Lake went up at least 20% for 2012. This year we'll have to spend less time at Blk Lk and more time at work to pay that.

sasnyder
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Re: Rumors

Post by sasnyder » Mon Feb 06, 2012 8:53 am

you can book campsites at Cedar Island thru NY State parks. I just did for June. the park consist of half the island. If this is a sports related company it might be a good thing. :?: Our taxes here also went up. I think we all feel the pain of taxes :evil:

Bob-O
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Re: Rumors

Post by Bob-O » Mon Feb 06, 2012 10:50 am

I found this online after reading some of the posts <http://www.wwnytv.com/news/local/Hong-K ... 97963.html>
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HappyCamper
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Re: Rumors

Post by HappyCamper » Fri Feb 10, 2012 6:05 pm

Correct me if I'm wrong because I don't own property on the lake but it's not that the tax rate has gone up but rather property values have gone up resulting in a higher tax bill because the property was reassessed according to current property values.

I have the same concerns as everyone else since someday I will likely be paying the tax bill. However, increasing property values is a good thing. Of course the downside is a higher tax bill. Unfortunately most people didn't purchase property on the lake as an investment in order to make money and have no intention of selling.

Still, we need to keep things in perspective. First, we are talking about second vacation homes.This is a luxury no matter how modest these properties may be. I don't know the tax history of the area but I suspect over the past 50 years or so the actual tax rate has not changed very much and if property values have remained the same I doubt we would be discussing this. Which brings me to my second point. Blaming taxes is missing the forest through the trees. The real problem is wages are not keeping up with the cost of living which includes taxes. Our middle class parents and our grandparents could afford to have a modest second vacation home on the wage they earned. Often in a single income household. Today that is just not the case. The average income just doesn't go as far today as it did 50 years ago. After adjusting for inflation, cost of living etc, we just don't earn what our grandparents and parents earned. So what happens is that first we get priced out of our second vacation homes and if the trend continues we'll get priced out of actual homes.
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Re: Rumors

Post by sasnyder » Fri Feb 10, 2012 6:50 pm

TAXES ARE KILLING US ALL :cry:

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Re: Rumors

Post by Glenp » Fri Feb 10, 2012 7:35 pm

Happy

The problem IS taxes. If you look at states that are doing poorly, they have one thing in common...confiscatory taxes. My taxes on my property in NY (4 acres and 1200 square feet of taxable space) are higher than the 300 acre working dairy farm here in Pa. Quite frankly, as much as I like BL and as much as we have dreamed about having a lodge on the lake, we are probably going to take our money elsewhere in the next year. I am not okay with outrageous taxes I am charged in NY. When my monthly tax bill almost equals my mortgage payment, something is wrong....very wrong.

I am a small business owner. As my taxes increase, I have less money to employ people and pay them a good wage.

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