Profile picture for terrig1231

regarding my tax question......

I did ask my realtor. the taxes reflected 4123.00 which is 394 a month. I can't afford that and the house but next door with the same features is 2000. I could put in an offer if the taxes were 2000 but not at 4123.  My realtors advice was to purchase it first than find out the correct taxes. I am sorry but I can't do that.
  • September 06 2010 - Hollywood
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (3)

Generally, when buying a home, the property tax (at least for the first few years) is based on a percentage of the purchase price of the home.  For example, if the property tax percentage is 3% and the home is purchased for $300K, the annual property tax would be $9K, or $750 per month.

I hope that helps!
  • September 06 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for MovewithMarci
Unfortunately you have to qualify for the purchase with the current taxes. You can appeal after you have settled. The state will not adjust without a sale. I do mostly bank owned foreclosures where this is a big issue. The taxes are based on the last sale price at the height of the market and although the value has dropped the taxes will not until it is sold again and appealed by the new owner. Its a bummer....
  • September 06 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I wouldn't buy a house if the taxes made it unaffordable! Ask your realtor to check with the title company to verify the taxes. You might even consider going down to the County or City yourself to check on the taxes.
  • September 06 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.