Property Tax Question Indianapolis
I have a quick question for anyone that is savvy about property taxes in the Indianapolis (IN) area. I am currently looking at a property in Indianapolis in the Bates Hendricks area that is a 4 bed and 2 bath property. The property looks good but not great on an IRR and COC basis selling at about $60K.
The problem is the property has a tax assessment of $14K and a property tax of $336. By comparison every other house I could find in the area has assessments that are much higher and property taxes that are at around $1k+. My assumption is if I go and buy the property at that price the property taxes would go up significantly. However, the broker says I am incorrect so I wanted to get a real answer from those who have more experience than I do or deal with this every day.
I don't have a ton of room for reduced cash flow on this one so going up to $1K would probably be a problem.