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LEGACY HOMES

ROSARIO AT CASCADE BAY ORCAS ISL AND, SAN J UAN COU NT Y, WA from historicsanjuans.org & visitsanjuans.com

THEN

NOW

SIX MONTHS TO LIVE

A SIMPLE , PERSONAL LIFE

On a rocky point above Cascade Bay, Robert Moran, facing a grim health prognosis, would build his five-level, 54-room mansion named Rosario—and would proceed to live on Orcas Island for another 38 years.

In the end, Moran donated his property and nearly 5,000 acres of land including lakes, forest and most of Mount Constitution, for preservation to the State of Washington, now Moran State Park.

6

This analysis does not factor in other taxes that bear on home ownership in New York vs. Washington State. For example, there is no

income tax in Washington State; but New York’s income tax rate on its top bracket is among the nation’s highest.

Furthermore, according to the Tax Foundation, New York as well as Connecticut have “‘tax benefit recapture,’” by which many high-

income taxpayers pay their top tax rate on all income, not just on amounts above the benefit threshold.” (http://taxfoundation.org/sites/ taxfoundation.org/files/docs/TaxFoundation_FF500.pdf) Tax advice is outside the scope of this report, and buyers should always consult a qualified advisor when making decisions with tax implications. 7

Note that this is not a comparative market analysis (CMA) with the aim of deriving an opinion of value as used by real estate agents

and appraisers, but rather a targeted effort to find the center values among homes in three different markets and compare the results. 8

Nobile, Newsday.com, 16 March 2016.

W W W. LEG ACY H O M E SRE P O R T.CO M

Legacy Homes Report 2016  

LEGACY HOME REPORT A legacy home is most often an expansive home, large enough to accommodate an extended family and guests, with fea...

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