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Updated about 3 years ago,
Inherited Home: property tax/insurance
This home that was originally purchased long ago, and therefore property taxes are very low and insurance is low. When it's inherited, how can I keep these two things the same? Is it possible? Does the house have to get reappraised, which will then increase all expenses? I've heard that if you maintain the residence as your primary home, then the rates will carry over. Is this true? And if I don't want this home as my primary residence, is there a way around that? e.g. certain number of years in the home? Any advice/info is appreciated!
Thanks!