“…but property tax will be what the last owner paid if that was higher, until you get them to reassessed. So the property tax argument is moot.”
Well, that is a valid point. However, if you think about that carefully, it would result in more polarization of the buyers. It would seem to me that that would be a major detterent to buying even in a favorable market since it would increase cost of ownership so much that I can’t believe that there wouldn’t be a major incentive to get the property re-assessed…otherwise selling it could be a problem if the property in question is 25 to 50% less than its last assessed value.
