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Updated almost 5 years ago,
High Property Tax Preventing Sales
I'm looking at a market that could be considered dysfunctional because of
the property tax rate being so high. Realtors are saying that it is
essentially frozen because nobody wants to pay more than the assessed
value because the property tax rates are very high.
Most of the rentals have been owned for a long time and sales based on current income will trigger ridiculous property tax hikes. Is there a way(s) to buy/sell to control the property tax from getting out of hand from hiked up assessments?