I recently received a call from a client who was going crazy because her neighbors were going crazy.
About what?
Their 2015 property tax bill.
Weeellll.... of course their tax bill was a bit higher than they had expected. When they purchased their homes, the property taxes were reflected as just a few hundred dollars per year. So naturally they would be upset.
This is where explaining things to buyers in detail comes in.
The call came in a little late in the evening and I spent a couple hours trying to figure out exactly what she was talking about since she had no tax bill in her hand and was speaking off the emotions of her frazzled neighbors. To the tune of after 11pm.
After pulling up her assessment and comparing it to that of her neighbors I was able to rest her mind with a flashback of our property tax conversation during her purchasing process.
I reminded her, "Remember when we were discussing your closing costs and the taxes were higher than just the few hundred dollars you expected and I explained to you that your lender based your closing costs off the true tax rate because those taxes you saw were for unimproved land only. Once your house is finished being built, you will be taxed on the land and the improvement."
She remembered and all was well in her world.
I can imagine how her neighbors must've felt blindsided going from less than $400 to $4,000 in taxes. Explaining things in detail to clients is key. Listening when your agent explains things to you is key as well.
When purchasing a new home in Gwinnet Country Georgia or anywhere one must take note that the true property tax will be reflected on their next tax assessment which will include both the land AND the improvement.
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