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Updated almost 6 years ago on . Most recent reply

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Lucas Zaichek
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How do assessments and property taxes work?

Lucas Zaichek
Posted

I am looking to buy a multi family property, however, the price that we would buy it for is ~$150k higher than the assessed value. The numbers still work with decent cash flow numbers. My question is, if we buy the property at a much higher value than the assessed value, how are the property taxes and "Improved Value" of the assessment affected? Will the "improved value" assessment likely increase a large amount, as well as the property taxes or how does that work?

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