I have a question:
I am thinking of purchasing a property and the taxes are based on an appraisal of 57,000. If I pay 65,000 for the house, would my taxes change or will they still be for the old tax appraisal? Please advise…
Howdy Knbradley:
Just buying the property willnot trigger an automatic increase in the tax value at lease in most states. In Texas you do not have to disclose the purchase price of the property to the public. There are some factors that may change. The previous owner for example could have been elderly and had the value of the property frozen until the sale or death. Recording the deed will be noticed by the appraisal office.