Taxes on a flooded home just purchased
I am looking at a number of flooded properties in and around Houston,
Does Anyone know after I close will I still need to pay the same tax rate assessed prior to the flood ?
Anyone close on a flood house and were taxes paid on the new lower flood value or full prior value ?
On Another note I keep receiving emails from a number of wholesalers with what I believe are just Dumb asking prices ..
Some wholesalers even include ( their own ) estimated repair costs ,
Most of the deals typically work out close to 70/ 75% of the ARV. (That is before Closing costs on the flip .)
That would be one dumb investment deal leaving such tight margins with great uncertainty -- No one really knows how buyers are going to react to repaired flooded homes vs prior flood Comps or homes in the area that did not flood.
I am looking for a number of properties and projects but the numbers need to make sense -- actually Dollars and Cents...
KC