Change In Property Tax After Purchase

[Gabe Goudreau]

Hello everyone, 

I know that when you purchase a property for an investment that property taxes "uncap" and subsequently grow the year after you purchase the property. I'm aware of how to calculate the normal property tax by multiplying the millage rate assigned to the property by the SEV, but is there a technique to estimate how much exactly the property taxes will increase after purchasing, or is it more of an estimate? I am looking at this specifically from a multifamily investment perspective because these increasing property taxes can impact returns for myself & partners/investors. Thanks! 

[Shane J. Renard]

@Gabe Goudreau - I always call the local tax assessors office and have a conversation on the purposed tax assessments. They will assist you with a formula.