Home Buying in 33029>Question Details

Alfa, Home Buyer in 33029

when you buy a short sale do the property tax change to the new price or you still have to pay the last owner property tax amount?

Asked by Alfa, 33029 Sun Sep 6, 2009

Help the community by answering this question:



When you purchase a home, the initial property taxes that are estimated when you set up the mortgage escrow account to pay the taxes when due are from the past year. If the home has decreased in value significantly since then, you may be able to appeal the value and have your taxes reduced, but only after you have purchased. You can't appeal the taxable value before closing, no matter what the value has dropped to.

If you have any other questions, please call my office at 561-337-4810.

Rodney Forbes
Forbes Realty of South Florida
1 vote Thank Flag Link Mon Sep 7, 2009
0 votes Thank Flag Link Fri Jul 27, 2012
The property tax is changing every year, buying a short sale does not change anything in the amount due.
the amount determined by the city with a just value
0 votes Thank Flag Link Tue Dec 21, 2010
The purchase price has nothing to do to what you pay on property taxes. It is the assesed value what counts for property taxes, the assesed value could be less or more to what you paid for your property, and the assesed vlaue is dictated every year by the county appraisal office where your property is located. Also last and not the least to mention is the fact that the assesed value does not take into account distressed property sales, just regular property sales, that are not short sale, foreclosure or REO properties sales. that explains why sometimes your assesed value is higher than what you paid for the property and hence your taxes are based on what the assesed value is and not what you paid for it.
0 votes Thank Flag Link Wed Dec 30, 2009
It is possible to pay less for the house than the assessed value is, however, the taxes will be based on the assessed value not what you paid for it.
0 votes Thank Flag Link Sun Sep 6, 2009
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