What is the assessed value of the property? Note that
assessed value is generally less than market value. Ask to see a recent
copy of the seller's tax bill to help you determine this information.
How often are properties reassessed and when was the last
reassessment done? Generally taxes jump most significantly when a property
is reassessed.
Will the sale of the property trigger a tax increase?
Often the assessed value of the property may increase based on the amount
you pay for the property. And in some areas, such as California, taxes may
be frozen until resale.
Is the amount of taxes paid comparable to other properties
in the area? If not, it might be possible to appeal the tax assessment and
lower the rate?
Does the current tax bill reflect any special exemptions
that you might not qualify for? For example, many tax districts offer
reductions to those 65 or over.
