Property Tax Assessment - Delaware County

[Brandon Ebeling]

BiggerPockets Community,

I'm looking for a little clarity in how property tax assessments are performed. I'd like to potentially invest in a 4-unit property on the outskirts of Philadelphia (Delaware County). However, the taxes in this area are extremely high. I've still been able to find some properties where the numbers work with the current tax assessment but I'm worried that a significant change in tax assessment would eat into my cashflow.

As a detailed example, one property has just recently been assessed for tax purposes at $110k in 2018 but the asking price is close to $250k. Does the tax assessment change to the price of sale once the property is sold? Would love to hear from anyone knowledgeable about the subject.

Thanks!