Quote from @Jad Boudiab:
Quote from @Princess Vista:
Quote from @Jad Boudiab:
Quote from @Princess Vista:
There is no chance taxes would only be $799 and insurance be $600-800 on an early 1900's build in Cleveland. I would bet your entire asking price on that.
Property taxes adjust to the sale price. When the auditor records a $105,000 sale, the taxes will immediately jump to the current tax rate (just under 3% of market value currently in Cleveland proper), and taxes would jump to roughly $3k. Good try though.
Whether assessments are done immediately after a sale (which has not been our experience in Cleveland) or every 3 years, any person who has ever owned property knows that there are going to be fluctuations and we’d always recommend investors work with their tax attorney on those matters. Simple fact is, these are the current taxes. You are reaching for a pointless argument. Best of luck to you.
