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ljd4
LIF Infant
Member since 9/11 58 total posts
Name:
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Question regarding property taxes
Forgive me if this is a silly question, but when a house is sold, is it automatically reassessed and therefore the taxes go up?
For instance, once in a while I see a home that has had the same owners for say 20 years with very low taxes-but if we bought it would it be reassessed and the taxes automatically go up?
Thanks!
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Posted 3/13/12 9:33 AM  |
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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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Re: Question regarding property taxes
Ours did NOT go up. They stayed the same.
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| Posted 3/13/12 9:39 AM |
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ljd4
LIF Infant
Member since 9/11 58 total posts
Name:
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Re: Question regarding property taxes
Do you know if the house had been sold within the 10 years prior to your purchasing it?
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| Posted 3/13/12 9:45 AM |
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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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Re: Question regarding property taxes
Previous owners bought it exactly 10 years before they sold it.
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| Posted 3/13/12 11:05 AM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: Question regarding property taxes
Our assessed number jumped up almost 80k, we have to grieve bc it's such a ridiculous number? The previous owners were here for 30 years
Message edited 3/13/2012 11:56:46 AM.
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| Posted 3/13/12 11:56 AM |
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ljd4
LIF Infant
Member since 9/11 58 total posts
Name:
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Re: Question regarding property taxes
See this is what I'm afraid of-If I compromise my wants a bit we could put a bid on a house with great taxes and decent price, but if the taxes are going to go way up once we buy it, it isn't worth it in my opinion.
I just don't understand how it works..
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| Posted 3/13/12 11:59 AM |
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AScottWolf
I <3 our squish!
Member since 11/10 2237 total posts
Name:
Adriana
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Re: Question regarding property taxes
I may be wrong with this, but I think sometimes the current taxes might not take into account any additions made to square footage. The town may only have 2 br and 1 bath on record for the house but in reality it has 4 br and 2 bath so yes, once it gets reassessed it will go up based on those additions.
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| Posted 3/13/12 1:16 PM |
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ljd4
LIF Infant
Member since 9/11 58 total posts
Name:
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Re: Question regarding property taxes
Yes, that is true but I'm wondering how it works if the house has not had any additions or all c/os are in order.
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| Posted 3/13/12 2:44 PM |
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ljd4
LIF Infant
Member since 9/11 58 total posts
Name:
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Re: Question regarding property taxes
bumping-any r.e. experts on line that might be able to offer insight on this?
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| Posted 3/14/12 3:47 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Question regarding property taxes
The people we bought the house from were the original owners. Our taxes did not go up at all.
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| Posted 3/14/12 4:21 PM |
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ny55angel
car seat tech & geek :-)
Member since 2/06 4346 total posts
Name:
P
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Re: Question regarding property taxes
The only reason our taxes differed from what the previous owner was paying was because they were receiving a veteran discount. House was not reassessed upon purchase.
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| Posted 3/14/12 7:15 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Question regarding property taxes
Nassau County -does an annual reassessment. You will be reassessed each year regardless of whether you recently purchased or not. Beginning with this assessment roll reassessments are only supposed to occur every 4 years. Those is the field are waiting to see how this plan actually works.
Suffolk County - some towns reassess annually (Southampton) - most do not.
If all c/o's were in place on the property a sale in and of itself would not trigger a reassessment. HOWEVER
your taxes could still increase even if the assessment remains the same. The former owners could be receiving special exemptions you are not entitled to and they will do a relevy
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| Posted 3/14/12 9:35 PM |
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ljd4
LIF Infant
Member since 9/11 58 total posts
Name:
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Re: Question regarding property taxes
Thanks so much-so I guess my husband is right-it may be worth it to compromise and put an offer in on a home with low taxes as long as we check with the town on current exemptions and c/o s.
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| Posted 3/15/12 7:53 AM |
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