Here's a solution fer ya: Make rentals property tax exempt.

When you self manage you are typically exempt.

Would Audrey be eligible for a partial exemption?

The Taxable Value is uncapped and equated to the SEV upon a sale or other transfer of property ownership, with limited exceptions.Homestead versus Non-Homestead Millage RatesCounties & cities in Michigan are allowed to set their own millage rates, with one restriction – a primary residence (Homestead) is exempt from up to 18 mills of school taxes on their Homestead property.

Here’s my calculations:Old house market value: 331,386Old house tax assessed value: 209,848Old house homestead tax benefit: 121,5382023 New house market value: 513,6002023 New house tax assessed value: 513,600Ported tax benefit from old house: -121,538Homestead: -50,000New house assessed value w homestead: 342,0622023 tax value before homestead: 513,600Millage rate: 12.3655Ad valorem tax: 6,350.92Non ad valorem tax: 838.34Total 2023 Property tax bill: 7,189.27(Estimated) 2024 tax value w HS (+3%): 352,323.86Millage rate: 12.3655Ad valorem: 4,356.66Non ad valorem: 838.34(Estimated) 2024 Property Tax bill: 5,195.01Savings of about $2k after porting my homestead exemption to the new house.

If they have lived there for 2 of the last 5 years, they could do Subject To, Contract for Deed, and probably get the tax exemption.

If you are living in the home as your primary residence you will probably lose the homestead exemption if you put it into a trust or LLC.

Hello, I just want to make sure that I am not missing anything that I am not aware of prior to buy this home. 320k buy price Seller owes 307k on the loanAssumable loan at 5.5%I would pay 13k for the equity in the home and still have 28.5 years left on the loan at closeTotal to buy the home would be 15k at closingBonus she is leaving a Washer/Dryer/ and Fridge for meSeller pays 2122 for mortgage/tax/insurance and there are no exemptions on the home. 

Obviously 1k is not enough to cover the transfer tax and Sheriff's fees... 2) I thought Sheriff's sales were exempt from transfer tax in PA?

As a mortgage underwriter with a focus on Texas property , I can tell you that Texas homestead exemption does offer significant protection for homeowners, including those owning an owner-occupied homesteaded duplex.