1. What is the assessed value of the property?
Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information.
2. How often are properties reassessed, and when was the last reassessment done?
In general, taxes jump most significantly when a property is reassessed.
3. Will the sale of the property trigger a tax increase?
The assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale.
4. Is the amount of taxes paid comparable to other properties in the area?
If not, it might be possible to appeal the tax assessment and lower the rate.
5. Does the current tax bill reflect any special exemptions that I might not qualify for?
For example, many tax districts offer reductions to those 65 or over.
Rick’s knowledge and professional personalize approach in assisting clients began in 1976, after graduating from the University of Illinois with a B.S. Degree in Finance, with special concentration in Real Estate and Urban Economics. He is the firms Designated Managing Broker.
Besides yearly sales achievement awards, Rick was twice elected President of the Quincy Association of REALTORS® and was honored by the Q.A.R. with Realtor of the Year and the Outstanding Career Realtoraward. Rick is experienced in residential and commercial sales and leasing, with an added background in the Management and Rehabilitation of rental property. He served as Commissioner and Chairman of the Quincy Housing Authority for over 17 years, providing oversight to over 300 subsidized housing units; which functions to ensure the availability of clean, safe and affordable housing for low income residents in our area.
For nearly 10 years, Rick held a Pre-License Instructor license, teaching the necessary coursework for those seeking Real Estate careers, while continuing to mentor and train new agents in development of successful careers.