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05/04/2005: "Land Bank Buys, & Will Sell Agricultural Land On SJI "
The San Juan County Land Bank recently purchased 60 acres of San Juan Valley farmland from the King family. Working with the King family, the Land Bank was able to come up with a plan that would allow for some use of the 80 acre property by the family, and sell the remaining to the Land Bank.
Once conservation easements are placed on the nearly 60 acres now owned by the Land Bank, the land will be resold. If the land is sold to a member of the public, the land will be put back on the County tax roles; and there may be an increase in taxes on adjoining properties, since the value of land next to property that is protected from development can sell for a higher price. The easements will help to ensure the property is not further developed.
The Land Bank paid $545,000 for 60 acres of the prime open space, with 20 acres remaining in the family. The land has been owned by the King family since 1930's. "Our Dad loved that land," said Maggie King. "We wanted to keep some of it in the family, and we wanted to preserve some of what our Dad loved - the woods, the open fields and the views."
Nancy Greene, Chair of the Land Bank Commission, said that: "Without their tenacity and the support from their families, this deal would never have come together. The King sisters must be thanked for their desire to protect this land. "
In 1990, San Juan County voters approved funding for the San Juan County Land Bank through a one percent real estate transfer tax. This tax is paid by purchasers of property in the County. Land Bank funds are set aside expressly for the purpose of preserving the natural heritage of the San Juan Islands. Through conservation easements or outright purchases, the Land Bank protects special properties in the County. These may be shorelines, wildlife habitat, woodlands, wetlands, homesteads, or farmland. The Land Bank has protected over 2,500 acres of important conservation lands throughout the San Juan Islands. For more information, contact the Land Bank at 378-4402.
