The price is right on this house (399,000), but the taxes are out of sight (21,000)!! Will taxes be adjusted for the sale price in an arns length?

Asked by gailbonner, Norwich, CT Sat Feb 4, 2012

transaction?? Thanks for any info. Gail B.

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Lori Hopkins-Cavanagh’s answer
Lori Hopkins…, Agent, New London, CT
Tue Apr 9, 2013
Taxes will not be adjusted unless you file a tax appeal with the municipality. In Connecticut the appeals process begins by requesting an appeals form and completing it and submitting it prior to the deadline of February 20th. Any owner of a property and Lessee with a lease that requires the payment of taxes may file an appeal. Photographs of defects and clear reasons why the property assessment is unfair, such as errors in square footage, number of baths and other fixtures and assets will be effective in persuading the board to reconsider the assessment.
0 votes
Joe and Mari…, Agent, Mystic, CT
Thu Mar 8, 2012
It is possible to get the taxes adjusted. One of the things you can do is bring your purchase and sales agreement down to the local assesors office and talk with them directly. This will give you a much better idea of where you stand as the assessor will then tell you whether or not if reducing the taxes is even something the town would consider.
2 votes
Keith & Kins…, Agent, Verona, WI
Sat Feb 4, 2012
That's completely dependent on the local assessor. We bought a condo for 20% below assessed value, and the assessor wouldn't adjust a penny. A duplex we bought was adjusted down to exactly the purchase price. I wouldn't count on the taxes going down. If it's affordable and makes sense to you with the taxes, then consider it an added bonus if you get an adjustment. However, if you can't afford (or aren't willing) to pay the current taxes, don't buy the house.
2 votes
Shanna Rogers, Agent, Murrieta, CA
Sat Feb 4, 2012
Hi Gail,

Property taxes should be based on sale price (the latest/current one).

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes
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