Your property taxes will be based on the assessed value of your home. When a home sells it gets reassessed. In the past we are all used to that assessment going up and thus property taxes going up. That trend is over. In your example above you posted some sample numbers that could indeed represent the new assessed value but the county assessor makes the assessment. If the assessor thinks the home sold for well below market then the assessor will value the home higher then the sales price. In this market I am not sure if that will happen. Your quote above seems reasonable but is not gauranteed.
