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Answers (4)
- Pamala Bava, "Realtee LLC"
- Contributions:26
You can go to the county and get a copy of the break down of your taxes. Taxes are not based on the sale price of the home but the taxable value and the tax rate in the city you live. If there is any issue with your taxes bring it up right away. Sometimes you don't have to go to the board of reviews. I sent a few people including myself to get taxes adjusted and did not have to go to the BOR.
Good luck
Good luck
- Wendy Valko, "Wendy_V"
- Contributions:18
I agree with both of the previous answers. Watch for your tax statement to come in the mail early February. I tell clients to think of the love and use Valentines Day as a guide. At that time contact the local municipality to schedule your appointment for the board of appeals.
This is only allow once a year, so don't foreget to feel the love.
This is only allow once a year, so don't foreget to feel the love.
- sunnyview
- Contributions:25139
Yes you can get them adjusted. The house's value the day that you bought in a arms length sale was the price you paid not a penny more. I successfully challenged my taxes and won. File your property tax appeal immediately and bring all escrow papers with you including your sale contract for you hearing. Good luck!
- Ron Touchette, "Ron Touchette"
- Contributions:69
Assessors are required to adjust the "taxable market valuation" of a property every year for the following years payable taxes. So yes the valuation will be adjusted to the current taxable market valuation but that valuation may or may not be what you paid for it. If you paid below market value then the final taxable market valuation could be higher if you paid above it, theoretically, could be lower, (but I would not count on that). Often you will need to appeal your tax market valuation to the assessor to get it lowered. It is very important that in the spring when your notice of pending tax market valuation comes in the mail that you review it and if you do not agree with the valuation then you have a very!! short time frame in which to lodge an appeal. If you do not appeal then your next years payable taxes WILL be based on that valuation times your MILL rate to determine the actual taxes to be paid.
On a foreclosed house that last sold for a higher price, can I get the taxes adjusted to new price?
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