Predict your property tax bill

REThink Real Estate

Q: I just wanted to inquire about property taxes relative to the selling price of the home. I have found a property that I am interested in. The price of the home is within my range, but the taxes are really high for this home in comparison to similar homes in the area. What are the chances of getting the taxes reduced? Who would I need to contact and how extensive of a process is it? –Joe

A: I’ve long believed that the reporting of current property tax rates on the multiple listing service descriptions of homes for sale probably hold the most potential for causing buyers to be confused and freaked out of any single entry in a home listing. (Of course, I formed that belief before Photoshop!)

Anyhow, you are a smart buyer to ask this question. Let me explain why this issue shouldn’t cause you too much worry, why these tax rates are still reported and what the process of resetting your property taxes post-closing will look like.