The success of catch, seafood regulations has brought a smile on some face and, for some, the struggle to afford the waterfront property that has been in the family for decades. Although the total value of the state’s commercial seafood has risen in each of the past four years, it’s still about $22 million less than it was at its peak in the mid ’90s.
It is told that the immediate financial savings aren’t grand – a few hundred dollars a year for most businesses – but many say they’re pleased to have any help they can get. Jackie Varnam said that it helps out a lot when you’re here on the waterfront trying to stay afloat.
Mike Voiland, executive director of N.C. Sea Grant, informed that a hotel that wants to build can come in with a very generous offer, and next thing you know, that fishing dock or fish house is gone. The law allows working waterfront properties, including certain commercial fishing operations, processing locations and piers, to be appraised at a value that won’t blow their tax bills out of the water.
Jay Robinson, owner of Beacon 1 Seafood in Varnamtown, said he was familiar with the deferral and might apply next year. Michael Brown, a real property valuation specialist with the Department of Revenue, said the deferral is meant to apply to tax bills sent out in 2009.
