Forum Replies Created
-
AuthorPosts
-
meadandale
ParticipantNice house?
The kitchen is tiny. The lot is barely larger than the house. Probably 2500 sq ft.
These houses would be a nice house for the price at about $225k.
ParticipantNice house?
The kitchen is tiny. The lot is barely larger than the house. Probably 2500 sq ft.
These houses would be a nice house for the price at about $225k.
ParticipantNice house?
The kitchen is tiny. The lot is barely larger than the house. Probably 2500 sq ft.
These houses would be a nice house for the price at about $225k.
ParticipantThe sector short funds are getting hammered today.
ParticipantThe sector short funds are getting hammered today.
ParticipantThe sector short funds are getting hammered today.
ParticipantThe sector short funds are getting hammered today.
ParticipantThe sector short funds are getting hammered today.
Participant“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.”
I answered that in my first sentence above…property is ALWAYS reassessed when it is sold; the new assessed value is the purchase price.
That’s one of the reasons it is stupid to pay a high asking price and get money back under the table during escrow. Not only is it FRAUD but you are going to wind up paying property tax on the recorded sale value, not the net price you paid under the table.
Participant“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.”
I answered that in my first sentence above…property is ALWAYS reassessed when it is sold; the new assessed value is the purchase price.
That’s one of the reasons it is stupid to pay a high asking price and get money back under the table during escrow. Not only is it FRAUD but you are going to wind up paying property tax on the recorded sale value, not the net price you paid under the table.
Participant“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.”
I answered that in my first sentence above…property is ALWAYS reassessed when it is sold; the new assessed value is the purchase price.
That’s one of the reasons it is stupid to pay a high asking price and get money back under the table during escrow. Not only is it FRAUD but you are going to wind up paying property tax on the recorded sale value, not the net price you paid under the table.
Participant“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.”
I answered that in my first sentence above…property is ALWAYS reassessed when it is sold; the new assessed value is the purchase price.
That’s one of the reasons it is stupid to pay a high asking price and get money back under the table during escrow. Not only is it FRAUD but you are going to wind up paying property tax on the recorded sale value, not the net price you paid under the table.
Participant“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.”
I answered that in my first sentence above…property is ALWAYS reassessed when it is sold; the new assessed value is the purchase price.
That’s one of the reasons it is stupid to pay a high asking price and get money back under the table during escrow. Not only is it FRAUD but you are going to wind up paying property tax on the recorded sale value, not the net price you paid under the table.
ParticipantProperty 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:
-
AuthorPosts
