Anyone familiar with property taxes in the Cleveland area?
I'm currently looking to buy a house in the Cleveland area that has some massive cash flow potential but it seems the property taxes just dropped 45% this last year.
For the last 10 years or so the property taxes were around $2,500 a year but last year they dropped to about $1,500. This will be my first investment property and I just bought my first primary residenceast year so I'm not quite sure how taxes work yet.
Is this a red flag that the taxes could double in the near future? What is a typical reason for such a drastic decrease? My concern is that the property taxes will only be at this level short term and then go back up and ruin the cash flow.
Thanks