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Updated over 5 years ago on . Most recent reply

James Colgan's profile image
James Colgan's profile image
James Colgan
  • Real Estate Agent
  • from North NJ
  • Member since May 17, 2017
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User Stats

76
Posts
16
Votes
James Colgan's profile image
James Colgan's profile image
James Colgan
  • Real Estate Agent
  • from North NJ
  • Member since May 17, 2017
Connect
James Colgan
  • Real Estate Agent
  • North NJ
16
Votes |
76
Posts
Foreclosures

Taxes on preforeclosure home

James Colgan
  • Real Estate Agent
  • North NJ
Posted

I have found a SFH in NYS that I am thinking about purchasing for myself to live in. It is in the preforeclosure state and listed for $250k and comps are about $450K. My question is about how the taxes for the home work. Tax history shows $14k/yr but then with the adjusted price of $250k it brings the taxes down to about $8.5K/yr. If I were to buy this home at the discounted rate in the preforeclosure state would the taxes be $14k? Also, do the taxes get adjusted for foreclosures as well?

Thanks, 

  • James Colgan
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