Do property taxes go up when you buy a house?

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asked Jan 17 in Real Estate - Renting by Lazyorbit909 (300 points)
Do property taxes go up when you buy a house?

1 Answer

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answered Jan 17 by Christeen (45,070 points)
Sometimes property taxes on the house will increase when buying the house when the house and property is reassessed.

For example if the house was assessed at a lower value and then the previous owner of the house was paying less and lower property taxes on the house and property then when you buy the house and the house sold for a higher value.

Then the house may be re assessed and then the real estate property taxes may increase some.

That doesn't always happen but sometimes the property taxes can increase when the house gets assessed again.

So be aware of that when you're looking at purchasing a house.

If you purchase a house through a mortgage then the property taxes are usually added to the mortgage payment and then the bank pays the property taxes each year out of the money that you pay into the mortgage.

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