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Should you
use a Buyer's Agent
10 Ways to Ease the Home Buying Process
10 Questions to Ask a Home Inspector
5 Property Tax Questions You Need to Ask
10
Questions to Ask Your Lender
10
Things a Lender Needs From You
Common Closing
Costs for Buyers
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5 Property Tax Questions You Need
to Ask
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What is
the assessed value of the property? Note that assessed
value is generally less than market value. Ask to see a
recent copy of the seller’s tax bill to help you
determine this information.
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How often
are properties reassessed and when was the last
reassessment done? Generally taxes jump most
significantly when a property is reassessed.
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Will the
sale of the property trigger a tax increase? Often the
assessed value of the property may increase based on the
amount you pay for the property. And in some areas, such
as California, taxes may be frozen until resale.
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Is the
amount of taxes paid comparable to other properties in
the area? If not, it might be possible to appeal the tax
assessment and lower the rate?
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Does the
current tax bill reflect any special exemptions that you
might not qualify for? For example, many tax districts
offer reductions to those 65 or over.
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