Hi John & Scott, many thanks for your quick responses. I very much appreciate. Please allow me to re-phrase my question. I have done some research and found that the property tax rate in my city is 1.211%. Assuming I buy a short-sale home at $180,000 where its estimated market value (e.g. from http://www.zillow.com
) is $200,000. The question is do I pay a property tax of 1.211% x $180,000 = $2,180 or 1.211% x $200,000 = $2,422?