2007-10-31 03:03:26 · 4 answers · asked by scottie 1 in Business & Finance ➔ Renting & Real Estate
No, you are not selling, so the value is not reassessed.
2007-10-31 07:08:46 · answer #1 · answered by Landlord 7 · 2⤊ 0⤋
Call your local assessors office and ask what kinds of things trigger a reassessment. It may vary by jurisdiction. The sale of a home in some jurisdictions does seem to prompt the assessor to want to visit the property to update the assessment data. The actual reassessments are done on a calendar, either annually or in some jurisdictions, every five years. But the data collection is often prompted by something like what you have described.
So to find out for sure, just call over there and ask about the process. You need not identify yourself or the address of your property so it won't create a risk to ask.
2007-10-31 10:12:59 · answer #2 · answered by John M 7 · 0⤊ 0⤋
It IS possible, but unlikely. Depending on the municipality, some do reassess automatically when triggered by a title change. However, assuming that your property is reasonably assessed right now, the change should be minimal.
2007-10-31 10:10:52 · answer #3 · answered by acermill 7 · 0⤊ 1⤋
There would be no reason for a reassessment if you are just changing ownership. So NO the taxes should not change.
2007-10-31 10:07:08 · answer #4 · answered by ebosgramma 5 · 0⤊ 1⤋