The Fairhope Single Tax Corporation, also known as the Colony, is a not-for-profit corporation in the City of Fairhope. In November 1894, a group of 28 single-taxers from Des Moines, Iowa wanted to establish a colony based on the single-tax theories of economist, journalist, and social reformer Henry George.
The people who founded Fairhope acquired land in the name of Fairhope Single Tax Corporation, then they leased the land to those who wanted to live on the land. Lessees receive a 99-year lease on the land but have ownership of improvements on the land. The Colony still owns about 4,500 acres of land in and around Fairhope and lessees still lease the land via a 99-year lease.
Although the infrastructure of Fairhope was built by the Colony, it was deeded to the City of Fairhope when it was incorporated. Today, the City of Fairhope operates just like any other municipality. Fairhope Single Tax demonstrates the usefulness of the single tax concept by enhancing the community through public parks, the public library, the historical museum, community sidewalks, the hospital, and many other bricks and mortar projects.
If you purchase a home on Colony land, you go through a short orientation and pay a lease transfer fee of $300. I’ve walked several buyers through the process and it’s NOT complicated. There’s a link below to their website and don’t hesitate to call them if you have any questions. I’m also here to help!
Donna Wells - Keller Williams Alabama Gulf Coast - 334-456-9009