They usually default to 6% at the new point of sale and then you have to send in a 4% exemption application in order to get the primary residence rates.Other folks that think our taxes are high just don't know that our assessors always assess substantially below market value and then after you apply the 4-6% tax rate, you further lower the bill by applying a millage to that figure.

@Mindy Jensen  this scenario plays out in rental property purchases as well.buyer gets ahold prior years tax bill that have owner occ exemptions and they rely on those tax bills being future tax bill.. only to get the new tax bill without exemptions and the tax's go up substantially double to triple in some cases... again these are things the buyers need to know and understand and that sellers may or may not warn buyers about and or just gloss over it to make their cash flow numbers look better.or like in Memphis were there is dual tax's city tax and county tax..

I live in central california where housing isn't as ridiculous as northern and southern CA, but median household income is substantially lower as well.  

I want to refinance an existing mortgage to substantially lower my payment via the HARP program.3.

The fact is inventory has grown tight as prices have appreciated substantially. 

The $100k would be an advance on a substantial settlement that I will be receiving in July.  

Long story short, this house is our first time doing a flip, so we are cash-out refi'ing in order to pay off some hard money loans and finishing some landscaping work before putting it on the market (lucky for us we had a substantial profit margin!!).

How to win friends and influence people.

The return should be so substantial to make the risk worth it.

If you do this right, you could be spending substantial amounts of time and money with them.