Condo conversion for refinancing purposes?

[Mike Abramowitz]

Let me start with I am currently in Boston area where a 3 family home costs 1-1.5M on average. I am curious if I were to convert a 3 family home into condos would I be able to refinance each condo to get 75% LTV and in turn pull more money out of my home? (Max loan amounts on 3 family, at least in my area, is about 650K, so it would free up another 200K potentially) I'm aware costs to do this definitely are something to consider too.... But does anyone know Does the property tax remain the same as it would for the whole house just proportionally divided?