Estimating property taxes

[Pete Hornstein]

Ok I keep looking at deals and running numbers and I keep wondering if I am estimating high on property taxes. Many deals I see the assessed values are lower, sometimes much lower than the sale price. So I estimate my own property taxes going forward. Example: sale price is 300,000 so I take 300,000/3 and multiple by a slightly higher tax rate. Say the bill says it’s 8.4% I use 8.5%

So 300k / 3 = 100k x .085 = 8500/yr

Instead of the property currently being assessed at 240,000 with the 8.4% tax rate.

Whats everyone else using or doing in this situation ?