Getting Hammered on Property Taxes

[Jake Dotson]

Hello,

Wondering if anyone is having a similar issue, and what you are doing to avoid it or help compensate for the extra costs. I have two Multi-Family properties that have had their property taxes significantly increase (double) within a 18 months of purchasing them. The reason being that the properties had not been transferred for 5+ years and I am buying them at a significantly higher price than before. 

I had one property go from $10k per year, to $10k per HALF year, and another doing the same. And I can't argue the appraised value with the county, because they are simply using the sales price as the "new appraised value". Bottomline is, is there something I can do to avoid this, or should I just take my lumps, focus on increasing income, and be more mindful of this in the future?

I am guessing it's the latter, but curious to hear BP forum thoughts.

Thank you,

Jake Dotson