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This form is used by purchasers claiming exemption from a land bank fee under Exemption 'I' as per the Land Bank Act. It requires details about the newly organized entity, including the names and
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How to fill out nantucket land bank commission
How to fill out NANTUCKET LAND BANK COMMISSION FORM I
01
Download the NANTUCKET LAND BANK COMMISSION FORM I from the official website or request a hard copy.
02
Read the instructions carefully to understand the requirements.
03
Fill in your personal information including name, address, and contact details in the designated fields.
04
Provide specific details about the land or property in question, such as the address and any relevant identification numbers.
05
Attach any required documentation, such as surveys or property deeds, as specified by the form's instructions.
06
Review the form for any errors or missing information.
07
Sign and date the form at the bottom where indicated.
08
Submit the completed form to the appropriate department as directed in the instructions.
Who needs NANTUCKET LAND BANK COMMISSION FORM I?
01
Individuals or entities looking to acquire land through the Nantucket Land Bank.
02
Property owners seeking to transfer or sell their land to the Nantucket Land Bank.
03
Developers aiming to propose projects that require land bank approval.
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People Also Ask about
What is the transfer tax in Nantucket?
Nantucket Island Land Bank Commission – A county agency administered by an elected five member board, it is funded by the aforementioned 2% real estate transfer tax.
How much is the transfer fee for Nantucket Land Bank?
The Land Bank's revenue is derived from a two percent fee which is levied against most real estate transfers on the island.
What is the Nantucket Land Bank tax?
A check made out to Nantucket Islands Land Bank for two percent of the purchase price, unless an exemption from the fee is claimed on Land Bank Form 1, Part D.
What is the Nantucket land bank tax?
Nantucket Island Land Bank Commission – A county agency administered by an elected five member board, it is funded by the aforementioned 2% real estate transfer tax. The Land Bank purchase and manages land for conservation and public recreational purposes.
Why is Nantucket island so expensive?
Conservation has helped to maintain Nantucket's character and seafaring history too. More than 50 per cent of the land is reserved for conservation. Just 40 per cent has been developed, so there is only 5 per cent left for construction. “Limited land and high demand make for soaring prices,” Dey says.
How much of Nantucket is conservation land?
The island is 14 miles in length and 3 1/2 miles wide. It is a beautiful oasis of over 50% conservation land with plentiful beaches accessible to the public for all to respect and enjoy. Nantucket is unique in that it is both a Town and a County.
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What is NANTUCKET LAND BANK COMMISSION FORM I?
Nantucket Land Bank Commission Form I is a document required to be filed with the Nantucket Land Bank to report real estate transactions involving the acquisition or transfer of property.
Who is required to file NANTUCKET LAND BANK COMMISSION FORM I?
Individuals or entities who engage in the purchase, transfer, or lease of real property on Nantucket Island are required to file Nantucket Land Bank Commission Form I.
How to fill out NANTUCKET LAND BANK COMMISSION FORM I?
To fill out Nantucket Land Bank Commission Form I, provide all requested property details, include the names of the parties involved, and submit the completed form to the Nantucket Land Bank office along with any applicable fees.
What is the purpose of NANTUCKET LAND BANK COMMISSION FORM I?
The purpose of Nantucket Land Bank Commission Form I is to facilitate the collection of a land bank surcharge on real estate transactions to fund the preservation and conservation of land on Nantucket Island.
What information must be reported on NANTUCKET LAND BANK COMMISSION FORM I?
On Nantucket Land Bank Commission Form I, the following information must be reported: property address, transaction type, names of the parties, date of transaction, sale price, and any relevant legal descriptions.
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