Asked by Alan, Chicago, IL • Thu Jan 7, 2010
or some other basis?
Does the REO price become the new value upon which property taxes will be based? I have my eyes on an REO unit, but I donâ€™t want to pay much more than its 2007 taxes. At least not for a few years. For example, the unit was purchased in 2006 for 700K and its taxes were around 8K per annum. If I were to buy the unit at 500K, would the taxes be around 8K, lower (because of the lower REO purchase price), or higher (based on what similarly built and located places are listing for)?
Also, what do people think REOs mean for the market and property taxes?
Real Estate in Chicago
Popular Categories in Chicago
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!