Tax assessment query
A piece of large commercial land in Pasco County I am looking to acquire is for sale at 1.5 MM. For the business I am in it is worth that for me. The property was last sold in 2001 for 290K and the tax assessment of the property is at 55K thus the real estate taxes are very low. I believe the reason that its assessed at 55k is due to the fact that on the property appraiser website most of the property is listed as low - lands. If I acquire this for 1.5 MM, would the tax assessment jump? Do I need to do some "strategical structuring" of the sale such that the sale price will be lower?