Five Property Tax Questions You Need to Ask

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.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.

Courtesy of Robert Shaw, Broker Advocate Properties LLC, REALTOR® | Click here for printer-friendly format

Contact Me

Fill in the form below or call me today at 512-346-7475

Your Contact Info

* Required fields are blue

First Name
Last Name
E-mail
Phone

What Are You Looking For?

Property Type
Price Range
 to 
Desirable Towns or Communities
Bedrooms
Bathrooms
Square Footage
Time Frame

Your Address

Address
City
State/Province
ZIP/Postal Code
Your Message