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tax assessment: Foreclosure or Short Sale: Reduction in Tax Assessment Not Guaranteed - 02/06/08 09:20 PM
If you are buying a foreclosed property from a lender or a property that is the subject of a short sale, you might assume that your property tax assessment will be reduced to reflect the purchase price you paid. Surprisingly, there is no guaranty that your assessment will be reduced. As a general rule, the county property appraisers in Florida disregard purchases from lenders after foreclosures or as part of a short sale in determining property values for real estate tax assessment purposes. Their position is that these are distress sales and are not third party arms length transactions that reflect actual
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