I’m looking at properties in Rochester NY that I’m considering purchasing at 25% above their current assessed value. Should I use in my projections the current property tax amount or should I assume that since I’m purchasing the house for 25% above its current assessed value, that my purchase price automatically becomes the updated assessed value and therefore I should budget for property taxes to be 25% higher than now.

Furthermore, if my purchase price becomes the updated assessed value, is that something that is triggered immediately upon the purchase or may still take a few years until the county updates it?

Is there any chance they would update it up but still below my purchase price?

Thanks for your help!