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Updated almost 8 years ago,
General/Long island tax questions
Hello, this is my first post. I've been thinking about investing for a long time and have really started doing some research the last few weeks. I have a tax question for everyone and if there are any LI investors that could help with suggestions I'd greatly appreciate it.
1. I found a property on zillow with significantly lower taxes than other similar homes in the area (almost 8k difference). So I looked up the taxes and they were surprisingly correct, no extreme exemptions or anything. If I were to buy this house is that something I should be counting on changing? How often are property values reassessed by the county(I'm guessing that varies)?
2. This is specifically for LI investors- Are there certain areas or strategies that you have found effective for avoiding crazy property taxes? My initial plan is to buy my house which I'd live in near Floral park (to be near the city and avoid the city income tax and invest nearby in Queens/Brooklyn to avoid the high LI property taxes. I'd be managing my own properties so I would like to live near the units.
Thank you in advance for your help and any other suggestions are greatly welcomed!