# Property Taxes



## vpapai (Nov 18, 2010)

Do not be confused on the stated amount of property tax listed on a property real estate listing. The seller's property tax is usually based, at least in part, on the price they paid on the property. The tax assessor will reevaluate the property's taxable value when it is sold. There is no telling how the assessor is valuing the property at the present time. There are many factors which could influence the amount of tax that a new purchaser would have to pay, based on the applicable law of the property's location, property value, and improvements value. Do your due diligence and check with your local assessor and see how the land would be assessed if you purchased it. Check if the land would qualify for lower based assessments for Agricultural Land, Veteran's assessment, Age of Buyer assessment or freeze, and many other particular factors on taxable value.


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## johng (Feb 14, 2009)

Very good advice! I'm surprised at how many folks don't understand that.


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## mistletoad (Apr 17, 2003)

It doesn't work that way here. Assessments are done every three years regardless of whether the property changes hands or not, but the tax rate changes every year.


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