Rising Tax Bills Are Pushing Long-Time Lake Champlain Owners to Sell

Written by:

Alejandra Rodriguez

Date:

10 Jun 2026

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For decades, waterfront properties on Lake Champlain barely changed hands. Families held onto their cottages for generations, and the idea of selling was almost unthinkable. But rising property values have pushed assessed values and tax bills so high that some long-time owners can no longer justify holding on. The very strength of the market is nudging people out.

Jo Anna Giltner, principal broker at Covered Bridge Realty in the Willsboro and Essex area of New York, has watched this play out over her 15 years selling waterfront homes. “The older homeowners on the waterfront have seen their assessments go so far up that it does force a lot of them to sell,” she says.

Why Values Have Climbed So Fast

Lake Champlain’s waterfront sits inside the Adirondack Park, where land can’t be subdivided or significantly developed. The number of lakefront properties is essentially fixed. That scarcity, combined with steady outside interest from buyers in New York City, Boston, and Connecticut, has driven prices upward for years.

Many of the original cottages, small structures built in the 1940s through 1960s, have been renovated into modern homes by newer owners willing to invest. That renovation wave has lifted values across the board, including for neighbors who haven’t touched their properties in years.

The result: long-time owners are sitting on assets worth far more than they expected, but they’re also receiving tax assessments that reflect those new values. For an older homeowner on a fixed income, that math can become impossible.

Who’s Selling and Why It’s Often an Estate

Giltner’s team handles a significant number of estate sales, properties that come to market because the original owner has passed away or can no longer travel. “We’re settling estates,” she says. “The owners have passed, or are too ill to travel anywhere.”

That creates a specific kind of transaction. Sellers are often family members managing a loved one’s affairs from a distance, emotionally attached to the property, and unfamiliar with the local market. Buyers, meanwhile, are typically coming from out of state, navigating an unfamiliar area and a complicated process.

In a rural, seasonal market where most parties aren’t local, hands-on coordination from a broker who knows both sides often determines whether a deal closes at all.

What This Means for Sellers

If you’ve owned a waterfront property on Lake Champlain for 20 or 30 years, you may be sitting on significantly more equity than you realize. Demand is strong, inventory is tight, and buyers are motivated. “When we put a property up, there still seems to be a lot of interest,” Giltner says.

A few things to keep in mind:

Price with confidence, but price honestly. The market is strong, but overpricing still leads to longer days on market. Work with someone who knows recent comparable sales specifically on the water, not general area comps.

Timing matters more here than in most markets. The selling season runs from May through October. Listing early gives you the widest pool of buyers. Properties that miss the season can sit dormant through winter and lose momentum.

Prepare for a remote closing. Most buyers aren’t local, and many sellers aren’t either. Documents, coordination, and logistics often happen entirely online. Choose a broker experienced in managing that process.

For Buyers

Estate sales and motivated sellers can create real opportunities for buyers who are prepared. But “motivated” doesn’t mean “desperate” in this market. Prices are still rising, and well-priced waterfront listings move fast.

Come in ready. Have financing sorted before the season starts. Know what you want, size, location, condition, because hesitation is costly when inventory is this limited. Don’t assume you can negotiate hard on a property that’s already priced fairly. In a market this tight, the next buyer is often right behind you.

What Comes Next

The dynamic driving this market, fixed supply, rising demand from outside, and aging original owners facing higher tax burdens, shows no sign of reversing. As more estates come to market over the next decade, buyers will have periodic opportunities to acquire waterfront properties that haven’t been available in generations. But each sale also raises the comparable values, reinforcing the pressure on the remaining long-time owners.

For sellers passing on a beloved family property, the current market offers the strongest position this area has likely seen. For buyers ready to step in, estate sales offer a real entry point, as long as you move with intention and understand the seasonal rhythm of this market.

About the Expert: Jo Anna Giltner is the Principal Real Estate Broker at Covered Bridge Realty, Lake Champlain region (Willsboro and Essex, NY). Focus: Waterfront second homes and vacation properties on Lake Champlain.

This article is intended for informational purposes only and does not constitute legal, financial, or investment advice. The views and opinions expressed herein reflect those of the individuals quoted and do not represent an endorsement of any company, product, or service mentioned. Readers should conduct their own due diligence and consult qualified professionals before making any investment decisions.