How I’m Quietly Turning 4 Rental Properties into a Passive Income Goldmine While Crushing My 9-5 Grind
Mike:
So now what I’ll do is I’ll always take a look at Zillow because generally the prior years are accurate, but I will no longer even make an offer until I go into the actual county assessor’s website, pull up the address there and look at what is the state assess value. And there’s usually depending, I think it’s all relatively the same, but you take the state assess value, you take the millage rate for that property and you do a little math and it will show you, okay, if you multiply this by this, that’s what your new value should be and the taxes will be a percentage of that. Everyone is obviously different, but if I don’t get that number because it’s always so much different than what the Zillow number was for the prior year. Now granted, the other thing too is if those numbers are so much drastically higher like people experienced in Florida generally, it’s also because of a lot of appreciation. So it’s not totally a negative. People freak out about, oh, my taxes went up. Taxes in my area in New Jersey are very, very, very high. I know Tony’s in California, they’re very high. Probably some of the highest land values in the country though, so is not entirely a bad thing, which is worth pointing out, but definitely worth doing your homework beforehand so you don’t end up in the red.
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