Taxes on a flooded home just purchased

[Keith C.]

I am looking at a number of flooded properties in and around Houston,

Does Anyone know after I close will I still need to pay the same tax rate assessed prior to the flood ? 

Anyone close on a flood house and were taxes paid on the new lower flood value or full  prior value ?

On Another note I keep receiving emails from a number of wholesalers with what I believe are just Dumb asking prices .. 

Some  wholesalers even  include ( their  own ) estimated repair costs , 

Most of the deals typically work out close to 70/ 75% of the ARV. (That is before Closing costs on the flip .)

That would be one dumb investment deal  leaving such tight margins with great uncertainty  -- No one really knows how buyers are going to react to repaired  flooded homes vs  prior flood Comps  or homes  in the area that did not flood. 

I am looking for a number of properties and projects but the numbers need to make sense -- actually Dollars and Cents...

KC