Is Multi-family building tax also based on the value

[Anshu Sanghi]

Hi,

    I am new to multi-family properties and currently exploring. One question I have is on how is the property tax value calculated for multi-family properties. Is it based on the assessed value of the property like residential properties? and will it be recalculated after sale based on the transaction price?

Thanks

Anshu

[Jeff Greenberg]

First of all every county does things a little different. Yes it is based on assessed value, but commercial is assessed differently. It is not based on comps, but net operating income (NOI). Check with the county assessor for the county that you are interested in.