Randy Daughe…, Home Buyer in Southfield, MI

what is the monthly or yearly taxes on this house?

Asked by Randy Daugherty, Southfield, MI Fri Jan 16, 2009

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This question is about this property: http://www.trulia.com/property/1072657821-25061-Colgate-St-D…

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Hello Randy! While Gary is absolutely correct in his answer to you, I'd like to add a little more information you might find useful. Right now, the taxes are non-homestead on this property and have been for years. That tells me that the home was probably used as a rental. Roughly, they are about $2,400 a year, or $200/month. There is also an $1,100 special assessment on the public records that will need to be cleared by the seller prior to closing with a new owner. We'd need to check and see what this assessment is about and whether it is a one-time assessment or something that would be recurring.

If you are purchasing this home as your primary residence, you would likely expect a reduction in taxes of about 1/3 when it is reassessed in the spring. Also, keep in mind that since this is a HomeSteps home, there are closing cost incentives being offered for all owner-occupied properties with offers presented on or before January 31, 2009. If you want to know more or if I can help you further, let me know.
Web Reference: http://MIHomeSeller.com
0 votes Thank Flag Link Sat Jan 17, 2009
Randy,

Current property taxes may not be what you pay on the property. You can estimate property taxes for any home on the State of Michigan Millage Estimator website

http://www.michigan.gov/treasury/0%2C1607%2C7-121--82403--%2…

Since the language indicates this is an REO property, the estimator may not give you an accurate value. You can call the City of Dearborn Hgts to verify the 2009 assessed value of this home and use that in the estimator.

In general, taxes are paid twice per year unless escrowed in your mortgage.
Web Reference: http://mi-living.com
0 votes Thank Flag Link Fri Jan 16, 2009
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