Tax increase after purchase

[Will McGuire]

I am looking to buy a three family in Newburgh NY in the Hudson Valley. I am looking at one in particular in which the current taxes are about $4,000 (based on an assessment of ~$105,000). The home sold as a foreclosure in 2015 for $50,000 and i am about to make an offer at $275,000. My question is if anyone has any experience with buying this type of property, did you, after the sale, have a reassessment done which in turn double or even tripled your taxes? I called the assessors office and she said it likely could double or triple the taxes but could apply for historic exemption, but I don’t want to count on that and then be left holding the bill which would kill all cash flow. Does anyone have any experience or advice they could share?