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Updated about 5 years ago,
How does BRRRR impact property taxes?
Curious as to how BRRRR impacts property taxes upon completion of a rehab and refi. To clarify my question:
Property is bought at $50,000 with a tax value of $60,000. Upon a successful rehab and forced appreciation, the ARV of the property is now appraised at $100,000.
Do BRRRR investors account for the hike in property taxes on the new appraised value at the start? Does the county even get access to the appraisal, meaning do the banks report the appraisal to the county? If no permits are requested from.the county, how else would they find out of the new property value?