Homestead Exemption with a new Rental

[Erin Weiss]

I'm in the process of buying a SFH. The previous owner was a senior woman who filed for a homestead deduction as well as one for seniors which resulted in her property taxes to be only $11 a month!!! Wow that's LOW!

Now that I'm taking over the home as an investment property, I won't be able to file homestead or a senior deduction so I know my taxes will go up a LOT.

My question is....when will my taxes go up and will they be adjusted automatically? I'm assuming maybe at the first of the year they will increase? Is there any way to find out exactly what my property taxes will be when it does increase?