The thing that really scared me was they told me after one of the hurricanes their condo assessed them about 100K.

They eat cash flow and the powers that be can yank renting privileges and give special assessments pretty much at will.  

It also may scar them for the next seven years if they try to repurchase a new home after walking away.Get all the facts and gather as many pieces of the puzzle as possible to try to put together the most comprehensive story of the situation as possible.

Assess the claim of damages2.

Then I used our county property assessment website to view nearby property values based upon the actual sale price, date and property description (i.e.

Make sure you perform the right due-diligence on the next project and do your risk assessment. 

They rely solely on the end buyer to assess all of that for them.  

Thanks so much, @Brie Schmidt, @Che Chiu Wong, and @Radhika M. for giving such comprehensive lists! 

Also I got comps from the MLS and I was able to put a value on the property for about double the amount the county assessed it for.

This document is a secondary source, but outlines the impact of this taxation on various tax-exempt organizations, tying together many sections of the IRS code in doing so.IRS Publication 598Here are the key points: The tax applies to tax-exempt entities, including IRA and 401k plans The tax is assessed when