Tax Assessed Value of Property (REO)

[Amir Saeed]

I have purchased a property that is a REO. The property needs almost full renovation. The Tax value listed in 2014 was around 75k. Now its listed at 15K, maybe because the property may have gone through several banks and since the property needs lots of work and is not livable.

My question is. From the tax point of view the low assessed value is good since I will have to pay less tax for the amount of time I own it. But when the property is fixed. Basically when its totally renovated how this tax value will come in play. How will base my selling price. Can the lower tax value hurt me in selling the renovated property. Any tips would be nice..