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Old 02-09-2009, 02:16 PM
 
Location: in transition
164 posts, read 772,413 times
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How do they value for taxes if you buy a resale? For example, if the taxes are $6K for 2008, which I assume is based on its purchase of $400K in 2005 (when new and at peak of the boom) and now it is listed for $200K, will the property be reassessed at $200K or might the county come back and say the house has a value of $300K and base the taxes off that?

TIA!
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