Updated almost 9 years ago on .
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High Sewer Tax, first property
Hello!
I am just getting started and thought I found a good first rental property. Of course, now there's a problem.
Historically, the taxes on this (recently-foreclosed) property were about $1,500/year. Last year they were over $4,000 due to a $3,200 sewer tax. We suspect either a leak or the old owners left water running when they vacated.
From what I understand, that huge tax last year will raise the tax I have to pay at closing. My real estate agent believes the tax will drop back to the historical level. I am worried the taxes will stay crazy high and destroy my tax flow.
Anyone have this experience? I'm in Baltimore, if that helps. Should I pass on this property?
Thanks!
-Erin