What to expect in tax adjustment when buying above assessed value?

[Tylere Weaver]

when looking at a property and the assessed value is less than the listing price how does one figure out what the new tax rate would be.  For example if a 5 unit is assessed for 100k and taxes are 10k a year.  The 5 unit sells for 300k would the taxes then be 30k?  

is there a metrics that one can use when performing their analysis.  

[Yu Liu]

Your local agent or property appraiser should also be able to help you with this so reach out if you have not

What I usually do is take a look at 3 or so deals. One could be the current deal, look at their taxes for the assessed value so example $500K and taxes are $10K a year so that's about 2%. Second and third one could be a recently sold comp, let's say both around $400K and it's about $8K, now you can basically confirm that it's about a 2% property tax rate so if you bought for 800K and you know tax rate is 2%, then it is $16K for your new tax.

Hope that helps.