5 Property Tax Questions You Need
to Ask
1. What is the assessed value of the property?
Note that assessed value is generally less than
market value. Ask to see a recent copy of the
seller’s tax bill to help you determine
this information.
2. How often are properties reassessed and
when was the last reassessment done? Generally
taxes jump most significantly when a property
is reassessed.
3. Will the sale of the property trigger a
tax increase? Often the assessed value of the
property may increase based on the amount you
pay for the property. And in some areas, such
as California, taxes may be frozen until resale.
4. Is the amount of taxes paid comparable to
other properties in the area? If not, it might
be possible to appeal the tax assessment and
lower the rate?
5. Does the current tax bill reflect any special
exemptions that you might not qualify for? For
example, many tax districts offer reductions
to those 65 or over.
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