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Updated over 5 years ago on . Most recent reply

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Rick Park
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Purchasing extras with property - how to not raise taxes?

Rick Park
Posted

sellfer financed. Maybe this is just a non-issue.. but if i buy a property that is worth X, but i want to include some equipment (tractor, mower, trailer) in the purchase for Y. So the total loan is for X + Y=Z. will the town look at the loan price of Z, or will they somehow know that the actual property is only worth X? is there a better way to structure the loan?

Thank you in advance for the advice. 

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Dana Whicker
  • Investor
  • Fernandina Beach, FL
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Dana Whicker
  • Investor
  • Fernandina Beach, FL
Replied

@Rick Park The tax assessors office is affected by sale prices, regardless of what they may say to the contrary. However, they don't care what your loan amount is.

This has been my experience in FL and IN. Ymmv.

  • Dana Whicker
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