G_Funk_Error t1_ja2wd8y wrote
Reply to comment by Blecher_onthe_Hudson in Property Taxes ~ Quick (dumb?) Question: if purchasing a condo for $600k with an assessed to value of $500k do the property taxes automatically adjust to the latest sale price of $600k? TIA by MarieSkiis
Help me understand that more. What are all the things that trigger a reval?
nuncio_populi t1_ja2xonn wrote
They’re generally supposed to be done every five years in most municipalities to ensure the tax burden is shared equitably.
Our last one was about five years ago but, as you know, that particular reassessment was extremely overdue and Fulop tried to delay it further to protect Dixon Leasing.
Blecher_onthe_Hudson t1_ja3g7vj wrote
I believe it's actually every 10 years or when the ratio gets more than a certain percentage, I think it's like 15% and already past it.
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