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“Guy, if I buy this house, will my property taxes be calculated based off my purchase price?” This is a question I get asked quite often. And is one for which most buyers are surprised to hear the answer. What they are really asking is will their new property tax bill be lower than the property’s current tax bill. Unfortunately the answers to both questions are “No”. Property taxes are calculated from a property’s assessed value. And while the assessed values of many Washoe County properties are declining [another 15% according to a Tuesday RGJ article], most property owners will … (0 comments)
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