Home Checklists November 29, 2022

5 PROPERTY TAX QUESTIONS YOU NEED TO ASK

5 PROPERTY TAX QUESTIONS YOU NEED TO ASK

1. 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.

2. How often are properties reassessed, and when was the last reassessment done? In general, taxes jump most significantly when a property is reassessed.

3. Will the sale of the property trigger a tax increase? 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.

4. 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.

5. Does the current tax bill reflect any special exemptions that I might not qualify for? For example, many tax districts offer reductions to those 65 or over.

The data relating to real estate for sale on this site comes in part from the Broker Reciprocity Program of Georgia MLS. Real estate listings held by brokerage firms other than Results Realty Services are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.

Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.

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