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4 Questions You Need To Ask About Property Taxes
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When buying a home, be sure to get the following information about the property taxes:
As the market value is typically higher than the assessed value, ask what the assessed value is. You can get this information by asking to see a copy of the seller’s tax bill.
Ask how often reassessments are done and the date of the last reassessment. Note that taxes increase the most when the property is reassessed.
Ask if selling the property will lead to a tax increase. The assessed value of the property may increase based on how much you pay for the property. Are the taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate.
Find out if the current tax bill indicates any special exemptions that you may qualify for. For example, many tax districts offer reductions to those 65 and over.
For additional information, see the following link:http://realtormag.realtor.org/sales-and-marketing/handouts-for-customers/for-buyers/questions-ask-about-property-tax
Kristy was raised in Kenner, Louisiana where she met and married her husband. During 2011 she and her family decided to relocate to Mandeville. They are raising their two wonderful children and love l....