Is new tax assessment automatic after sale?

[Philip Watts]

I’ve come across a multi family for sale that works for cash flow but it seems the taxes are on an assessment around half what it’s likely to sell for. I haven’t had the experience in buying a place with that much of a gap and I’m not remembering if I should expect taxes to immediately jump to the sale price level. This is western Massachusetts so it’s already pretty steep.

Additionally, Is there any way to do some homework to find out if it’s likely or automatic for this town?

Thanks

[Patricia Steiner]

There is a Tax Estimator feature on the property appraisers' websites. Key in the address and the price paid and it will give you a range for estimated taxes. The taxes listed on the MLS and other third party sites is the tax the current owner is paying; it will not be what you will pay which is based on the sale price and ownership (like primary or not).

Hope the deal works with the new assessment; and better to know now then after acquiring it...good for you for vetting this.

Best.