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Account #: 497 Address: 2445 Wilson Creek Rd, Newark Valley, Town of Newark Valley Municipality: Town of Newark Valley Tax Map # 43.00-1-31 Land Size in Acres: 190.55 acres (+/-) 2008 Assessment: 236,250.00 Last Owner: John E. Martyak Parcel code - use: 240 - Rural Residential Est. Yearly Taxes Due: 8,300.00 School District: Newark Valley Public Water: no Public Sewer: no Foreclosure Year: 2006 Property Description: Large parcel of land, slightly more than 190 acres. The property includes a two story wood frame (in need of substantial repair). It also has out buildings to include a large post and beam barn, board and batten siding with multiple levels and a concrete block milk house. Note that in the basement milk parlor that there are wooden cow stanchions! The property buildings are vacant. This property will be sold by the acre with that high bid amount multiplied by the number of whole tax map identified acres. BUT . . . ONCE AGAIN, the REAL value here is the potential for gas leases. NYS Real Property Tax Law (Article 11) provides that the tax foreclosure process cuts off all title and interest of the owner, and also all other claims and liens, including mortgages and judgments. Recorded easements and rights of way are not cut off. Do your homework, due diligence, for this property . . . but it is considered that any pre-existing gas or mineral leases have been terminated by this tax foreclosure
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