Can refinance unlock property taxes?
I've owned an investment property in Michigan for 6 years. Now that rates are low I'm considering refinancing. The title is in a business name. The lenders are saying the the title would have to go into my name, after which I could deed it back to the business. Would that name transfer cause my property taxes to be unlocked?
I bought my brother out of half of one of his investment properties a few years ago, at which time the deed was transferred into a different business name. At that point the taxes on the house went up 50%. We don't want to repeat that mistake. Was the issue there that the title stayed in a different name as opposed to my current case where the title would come full circle back to the current title's name?