If a property (REO) was purchased with a current value much lower than the original high market value. How does the county assess the property tax of that property? DO they do it voluntarily or you have to request the county to reassess?
Property is always reassessed when it is (re-)purchased. From that point forward, the assessed value will generally increase automatically at a rate of no more than 2% (according to the CPI).
If you bought at the top of the market and your house has decreased in value, you can file for a reassessment. This can save you thousands of dollars a year.
Shameless plug for a friend of mine who does this:
Property is always reassessed when it is (re-)purchased. From that point forward, the assessed value will generally increase automatically at a rate of no more than 2% (according to the CPI).
If you bought at the top of the market and your house has decreased in value, you can file for a reassessment. This can save you thousands of dollars a year.
Shameless plug for a friend of mine who does this:
Property is always reassessed when it is (re-)purchased. From that point forward, the assessed value will generally increase automatically at a rate of no more than 2% (according to the CPI).
If you bought at the top of the market and your house has decreased in value, you can file for a reassessment. This can save you thousands of dollars a year.
Shameless plug for a friend of mine who does this:
Property is always reassessed when it is (re-)purchased. From that point forward, the assessed value will generally increase automatically at a rate of no more than 2% (according to the CPI).
If you bought at the top of the market and your house has decreased in value, you can file for a reassessment. This can save you thousands of dollars a year.
Shameless plug for a friend of mine who does this:
Property is always reassessed when it is (re-)purchased. From that point forward, the assessed value will generally increase automatically at a rate of no more than 2% (according to the CPI).
If you bought at the top of the market and your house has decreased in value, you can file for a reassessment. This can save you thousands of dollars a year.
Shameless plug for a friend of mine who does this:
The situation is if I purchased a house at a lower price than what the previous owner has to pay, then do I have to ask the county to reassess or they will automatically reassess the tax according to the lower selling price.
The situation is if I purchased a house at a lower price than what the previous owner has to pay, then do I have to ask the county to reassess or they will automatically reassess the tax according to the lower selling price.
The situation is if I purchased a house at a lower price than what the previous owner has to pay, then do I have to ask the county to reassess or they will automatically reassess the tax according to the lower selling price.
The situation is if I purchased a house at a lower price than what the previous owner has to pay, then do I have to ask the county to reassess or they will automatically reassess the tax according to the lower selling price.
