Estimating property tax on flipped turnkey rental?
Hello BP, I am beginning to research turnkey rentals and am wondering how shrewd buyers estimate what the property tax will be for a 2023 SFH purchase whose tax records show the tax on the property before it was flipped. Example, I'm looking at a house in Memphis whose 2021 property tax Redfin shows as $338. The house was bought in 2022 for $50k and now the turnkey company (who likely flipped it) wants ~$130k for it. The turnkey company is also estimating the annual property tax to be about what it was in 2021 ($338.) Is it correct to estimate that if I buy the house for more than 2x what it sold for that the annual property tax would remain the same as it was pre-forced appreciation? Any advice here? This isn't a critique of the turnkey company—I'm looking for advice/info on how to think about this.