NC Coastal Resources Commission

The Scotch Bonnet dilemma

When former Governor Mike Easley of North Carolina bought into Cannonsgate in Carteret County years ago, a developer and or real estate broker got giddy. The purchase put prestige and a big commission into someone’s pocket. Easley’s .36 acre waterfront lot according to Carteret County Assistant Tax Administrator Ralph Foster, was valued at $1,198,245.00 one year later. Easley paid $549,880.00 for a patch of sand. Assuming the standard 6% commission, $32,992.80 was a nice payday.

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