New investor insurance confusion

5 Replies

Look up the property at the county property tax website. It should have amount of taxes assessed on that property for the last year. 

Then look at the way property taxes are calculated going forward. I.e., how will the taxable value change upon sale and what it the tax rate.

@Jonathan Bell Your best bet is to contact the tax assessor in the area that you're looking for properties in.  Property taxes will vary from area to area and there can often be substantial increases upon a sale.  You need to understand when the reassessment will occur, how the valuation will be determined, and if a sale will have any impact on when the reassessment will occur.

Originally posted by @Charles Seaman :

@Jonathan Bell Your best bet is to contact the tax assessor in the area that you're looking for properties in.  Property taxes will vary from area to area and there can often be substantial increases upon a sale.  You need to understand when the reassessment will occur, how the valuation will be determined, and if a sale will have any impact on when the reassessment will occur.

 Thank you Charles!

Originally posted by @Nick B. :

Look up the property at the county property tax website. It should have amount of taxes assessed on that property for the last year. 

Then look at the way property taxes are calculated going forward. I.e., how will the taxable value change upon sale and what it the tax rate.

 Nick, thank you!