It’s natural for the sale price of a home to loom large in your mind. But don’t forget to look at what your property tax bill might be.
What is the assessed value of the property?
Assessed value is generally less than market value. A recent copy of the seller’s tax bill will help you determine this information.
How often are properties reassessed in this area?
In general, this will happen annually, but properties in areas of slower growth may be reassessed less often.
When was the last reassessment done on this property?
Most significant tax increases on an individual property can be linked to when that property was last reassessed.
Will the sale of the property trigger a tax increase?
Depending upon where you live, the…