Real Estae Tax for Multifamily

8 Replies

Hi BP, could someone please provide a quick way to calculate (roughly) how much property tax assessment be for a multifamily apartment building.

@Mitul Rana have you tried going to your county accessor's website and look up what last years taxes were? This is how you look it up on any property. Not sure if its different for a big apartment complex or not though. If it is different, I am curious to know myself. 

@Ryan Davis

Hi Ryan, I am just at the preliminary stage of analyzing this property which is in a different state that I live in. In fact, my broker just sent it to me earlier today to review. 

I was just looking to see if there was some sort of a calculation that can tell me quickly what the property tax would be, roughly, on this property. From my initial analysis, it seems a bit high to me so I wanted to run it through a "rule of thumb" calculation, if there was any. Then, I'll know if i should pursue further or pass.

Thanks!

This is completely dependent on the area. I don't see how anybody could provide this to you. Where are you purchasing?
Originally posted by @Chase Gochnauer :
This is completely dependent on the area. I don't see how anybody could provide this to you. Where are you purchasing?

 Maybe I am confused, but how can you say that there is no way to obtain this information? Property taxes on any property is public record right? 

It sounds to me like they are looking for a universal way to calculate the property tax. that is why I said that

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@Ryan Davis what @Chase Gochnauer is saying is that every municipality calculates taxes different and uses different formulas to asses a property's taxable value. If you go into the county assessors website you should be able to see what taxes are for 2017 and figure they will probably go up by a couple percentage points from there. There is no universal formula to estimate a property's taxes.
Much more eloquently said Jason, thank you.

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