If you buy a house that has been "flipped" or substantially improved, your city property taxes will be reassessed and go way up. Maybe the city won't notice? Nope, they notice. Permits should have been pulled for the renovations so they know about it. An unsuspecting buyer might budget for $2200 a year in property tax, but before long,
it goes up to $3400. An extra $100 a month is a budget buster, isn't it.
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