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by lotsofpulp
1043 days ago
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This is only true for very few markets that have ridiculous subsidies for land owners via laws that limit property tax, such as California. Most other places re-assess all property values on an ongoing basis and charge you accordingly. |
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Those reassessments are based on market activity over the preceding year. Property changing hands without actually being a real estate transaction does not generate market data for the assessors to use