No
Benefit From Beach Real Estate
Even though beach properties –
which belong to the State –
command the highest prices,
almost no revenue comes from
them to the local and national
governments.
So, while beach properties are
sold for half a million or a
million dollars, the municipal
corporation – and much less the
Government – barely gets a few
dollars – if any – from each
deal.
Legislator Maureen Ballestero
admitted that this situation is
inconceivable, that there is the
will to amend the laws
regulating the sector, but that
the Legislative Assembly is
currently focused on the Free
Trade Agreement with the United
States; therefore, chances for a
change in the trend are almost
nonexistent. |
