How to estimate property taxes after rehab?
Hello BP community! I'm looking at a small SFR (3 bed, 1 bath, 1130 sqft) that is in ROUGH shape. It's basically walls and a roof and nothing more. Property taxes are $400 right now. I should be able to pay $25k for the property and I'm estimating rehab to be around $50k. ARV looking like roughly $95-100k.
So my question is - what should I expect property taxes to look like after the rehab? Should they immediately jump to market rate for similar homes in the area the following year? Or will it be a slow climb? Any feedback is welcomed. Thanks! :)