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MR. SCHUTTE: That is the point-I 'm getting at. <br /> What is that point? <br /> MS. ISBELL: We think it is not more than 2% <br /> per year of the assessed value at the time that whatever is <br /> on the books right now. We are being assessed for our home at <br /> a little more than what we paid for it. We don ' t intend to <br /> sell it. It is not going to be on the market to make a big <br /> profit and if it were and we sold it then we should have to pay <br /> some of those taxes as if we planned to. And that, I think , <br /> would have been an anti-speculation clause. But it isn ' t in <br /> right now. <br /> MR. SCHUTTE: Why would you have to pay this <br /> additional dollars if you were to sell your parcel_ of. ` land._ After <br /> a number of years if you have taken this same parcel and improved <br /> it and added to it and enhanced its value. It has cost you money <br /> to do that.,__ So why after a period pf five years or ten years <br /> would you have to be assessed a penalty for enhancing the value <br /> of your own property? <br /> MS. ISBELL: First of all , you are the one who <br /> has talked about the fact that if you have dedicated agriculture <br /> land and it was sold at a` big profitto be a subdivision or what- <br /> ever and then you were assessed back on whatever it was dedi- <br /> cated"!for. Why that? The same answer holds true with this. <br /> The reason is for anti-speculation. If you are being taxed because <br /> you sold it=-: for a lot of improvements that you have made on it <br /> then according to that you wouldn ' t be selling it for that much <br /> more. But we are talking about inflationary land that is doubling <br /> and tripling. It is out of sight. That is a different story <br /> altogether. <br /> MR. SCHUTTE : No, I don ' t think it is because on <br /> the land that is being used for a specific use, as I mentioned, <br /> is a law that is existing on the books today that gives the <br /> individual the opportunity to take advantage of a specific use. <br /> I merely answered a question that you proposed of an Oregon law <br /> that exists and I pointed out that there is a law that exists on <br /> the books today that gives you that opportunity. <br /> MS. ISBELL: But you are asking me, why? , And <br /> I 'm saying, that ' s it. The reason it is on the books for that <br /> bit of property must also apply to anything else that is sold. <br /> Whether it be residential, resort or farm. There has to be a <br /> reason for it._- The reason they have it on the books for that. <br /> purposeP is anti-speculation and we are stating that same to be <br /> true here. <br /> MR. SCHUTTE : So what you are actually saying <br /> is that there should be a specific use-for residential use only. <br /> MS. YIiSBELL: If that is what it is zoned at. <br /> MR. SCHUTTE : And then if at some other time <br /> along the way, you should decide to sell this parcel then you <br /> should be, taxed for its higher and better use. <br /> - 18 - <br />