. $100,000 x 4% (owner occupied) = $4,000 Assessment$4,000 x .260 (district millage rate) = $1,020 Tax amount$4,000 x .130 (district millage discount) = $510 property tax relief$1,020 Tax amount - $510 property tax relief = $510 Property tax for owner occupant.$100,000 taxable value$100,000 x 6% (Non-owner occupied) = $6,000 Assessment$6,000 x .260 (district millage rate) = $1,530 Tax amount for Non-owner occupied

The property valuation reconciliation you describe is a hurdle throughout the industry.

@Michelle R.As you could imagine, with a 180 day period to close (half a year), this situation would likely pop up a lot.First, be sure to talk with a tax advisor / CPA that knows your whole picture before you make any decisions (as there may be something I'm missing from your post).But generally, if your funds in 2017 went to a qualified intermediary, and you had the full intention and ability to complete a 1031 exchange before the applicable deadlines, but weren't able to complete- the sale could be treated as an installment sale, and taxed in the year you received the proceeds (2018) from the qualified intermediary (when they paid you back the money they were holding).Now- if you had any gain due to debt relief, or had any depreciation recapture, this would generally be taxed in the year of the sale.I'd recommend hashing this out with your tax advisor/CPA as amending your return after the filing deadline if you end up owing more tax could cause you to incur some interest and penalties.

For sellers who need debt relief stick with assigning lease options or contracts for deed, they afford the seller better protections.Finding these deals:1.

This go around, he has 3 hired maintenance guys and an accountant that should take relief out of the daily happenings.

I have some concerns about this inquiry being turned into a request for relief but I would probably just counter at $27k, if that is my number, and be done with it.

And in theory, they would sigh with relief.

Now the tenant has the relief from stay and the proceedings will have to go through bankruptcy court before eviction court. 

These are the letters that get sent to homeowners who are at least three mortgage payments behind.There hasn't been a lot over the past 2.5yrs because of all the Covid relief money but NODs are absolutely the best way to get ahead of foreclosures.Good luck!

So yeah big sigh of relief for me- Look I got 20k back in my pocket but I’m out 70k till it sells.The reality sets in- Okay the reality of the situation set in when I realized I had to go do new plumbing, electrical- entire house of duct work because originally had radiator heat coupled with the fact that I changed GC half way thru the process, prior GC got a deposit and I let him walk because of issues with another rehab project so I had to add that loss into my budget.