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Updated over 6 years ago on . Most recent reply

User Stats

67
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10
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Clarence Gong
  • Rental Property Investor
  • China
10
Votes |
67
Posts

Property tax issue in Cleveland

Clarence Gong
  • Rental Property Investor
  • China
Posted

Hi BP family,

I am a new rental property investor from overseas. I have a question regarding the property tax and it may sound very basic.

Let’s say the flipper bought the property a year ago for 100k and paying a low tax under 2k annually.

If I bought it for 250k after the total rehab, would I be paying tax 2.5 times compared with the flipper paid? Or is there anyway that I could keep the tax as low as possible?

Thanks in advance 

Clarence 

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