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Tax Liens & Mortgage Notes

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Sean Lawrence
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
Replied Mar 28 2024, 02:04

The value

The tax rate

Exemptions

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Andrew Freed
  • Investor
  • Worcester, MA
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Andrew Freed
  • Investor
  • Worcester, MA
Replied Mar 28 2024, 02:51

Figure out the assessed value and the towns mil tax rate for real estate (it could be commercial or residential) and calculate it. You can locate the assessed value on the property card usually. You also can normally look up tax bills online for some of the larger municipalities. Lastly, you can always call the assessors office and ask someone as well if it is not straight forward.

Lastly, when you close on a property, the assessor / tax office usually adjusts the value of the property on some aspect of the sale hence assume the taxes will go up by a certain threshold once you close. You can call the assessors/tax office to see what threshold they normally increase taxes on properties recently sold, e.g. 70% of the market value. 

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Rick Albert
  • Real Estate Agent
  • Los Angeles, CA
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Rick Albert
  • Real Estate Agent
  • Los Angeles, CA
Replied Mar 28 2024, 09:30

Are you talking about past due balance? You can go to the LA County Tax Assessor, type in the APN and it shows how much is owed.

Otherwise, the general rule of thumb is roughly 1.25% of the assessed value, assuming no Mello Roos.