3 ms·
Growing 4X in value over 41 years is only a 3.44% annual rate of return. I wouldn’t call that a haul. If you consider cost of improvements, upkeep, and inflatio
by repiret 3y ago
Growing 4X in value over 41 years is only a 3.44% annual rate of return. I wouldn’t call that a haul. If you consider cost of improvements, upkeep, and inflation, it’s probably a loss.
- Firmwarrior 3y agoEspecially since he owned a lot of Apple stock, haha
- eitally 3y agoThe odds are exceptionally good that he wasn't trying to maximize profits with the sale. Additionally, the valuation of the land as an open space preserve is far different than it might be if it were estimated for development.
- deleted 3y ago[deleted]
- gnicholas 3y agoI did wonder (as a former tax lawyer) if he is also claiming a deduction, on the theory that he is donating a portion of the FMV to the land trust. Some land owners have donated development rights to properties they own, which reduces the future value of the land (and generates a hefty current deduction).