if a house is assessed for $245,300 and the taxes are $5,151 but it now a short sale $149,900 will the taxes be lowered to reflect the lower cost ?

Asked by ginger99, 04429 Fri Feb 28, 2014

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4
Debbie Brand, Agent, Bedford, NH
Fri Feb 28, 2014
The sale price has nothing to do with the tax assessment numbers. A short sale means, simply, that the bank is willing to accept less than the amount owed on the bank note. It does not necessarily mean that the home is worth less. Buying a home through a short sale can be viewed in a very positive way, because the buyer almost always has instant equity, which could be used for updating or needed repairs.
1 vote
Michea Bland, Agent, Raymore, MO
Fri Feb 28, 2014
You can dispute the tax amount with the county of the property. Typically, they will request a copy of the appraisal. After reviewing that, my experience has been that the taxes are reduced to reflect the "appraised" value. However, you should be prepared that when the county does its next assestment, the taxes could go up again. Hope that helps. If you have more questions, please ask!
1 vote
James Goddard, , 03055
Fri Feb 28, 2014
They may be, but what you are going to need to do it try to get 3 comparison sales in order to try to get it down.... go to your Town Hall and ask about he abatement process... Most likely they will no just lower it for you out of goodness without going thru this process... Remember you only grease the squeaky wheel :)
1 vote
thank you for that useful information -
Flag Fri Feb 28, 2014
Melani Taill…, Agent, Portsmouth, NH
Fri Feb 28, 2014
Taxes are based off of the assessed value not the sale/purchase price. Hope this helps.
1 vote
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