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Tax bill on forclosed house?
As many people know, forclosures in the USA are at unbelievable numbers right now, and I have the opportunity to pick up a house that is worth 700,000 dollars for about 40,000. Traditionally, tax bills from the city are based on the purchase price of the house, but I was told that it would be based on the value of the house, which goes against California Prop 13. Anyone know anything about this?
1 Answer
- Baby PootsLv 61 decade agoFavorite Answer
I suggest you consult a very knowledgeable real estate agent, an attorney specializing in real estate, or the Housing Authority of the State of California.
