How do you guys calculate taxes?

Question

As far as running your numbers for small muliti's (2-4 units) do you use the taxes listed on the MLS? I'm getting mixed up between what's on the MLS listing and what is on Zillow, Trulia etc. How do you guys calculate taxes, other than "asking an experienced agent?

Alecia Loveless · Answer

@Victor Carvajal As part of my due diligence either when I first start looking at a property or once I get it under contract if I can’t get it beforehand I make sure I have a copy of the current tax card emailed to me by the listing agent. It’s their job to provide that information.

Or worst case scenario I call the tax office for it.

Matthew Morrow · Answer

When calculating taxes for small multi-unit properties (like duplexes, triplexes, or fourplexes), it's important to approach the numbers with caution. The taxes listed on MLS (Multiple Listing Service) can be a good starting point, as MLS is often updated and used by real estate professionals. However, it's not uncommon to find discrepancies between the figures listed on MLS and those on consumer-facing sites like Zillow or Trulia. This is because these sites might have outdated or less accurate information.

Alan F. · Answer

As for quick numbers if you're analyzing lots of deals those sites can be useful. I know some investors that do this, with refundable EMD contingency. But the bottom line will come from the local assessor.

Alan F. · Answer

If property taxes are what you're asking I get em from the assessors office.

https://www.jerseycitynj.gov/online_services/assessments#:~:text=TO%20VIEW%20PROPERTY%20TAX%20ASSESSMENTS%3A&text=Go%20to%20www.njactb.org,Left%20click%20on%20Records%20Search.

Victor Carvajal · Answer

Thanks! This makes it make sense.

Victor Carvajal · Answer

So I should not be running my numbers based on the property taxes on the MLS listing or on websites such as Zillow?

Chris Seveney · Answer

@Victor Carvajal

Taxes are typically available online or just called the assessors and tax office to get what the taxes are

How do you guys calculate taxes?

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