two family house tax assesment
I see two family house for sale in Brooklyn for 700K. The house listing states property tax at 3700/year. Does it mean that current tax is 3700/year? How the tax will be assessed if I buy this house?
My underspending is the tax will be a (assessed value) * 0.08 *0.14. And if assessed value will be 700K, the tax is 7000/year. Is it a fair statement?
How previous owner get this small tax? Is it because he lived for long time and the assessed value is low or because he rented one floor of the house and with time it reduced the value of the house though amortization?
Or was I wrong with calculation at the first place?
Thank you for attention.
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