How are taxes assessed on the purchase of a short sale home in ...

Question by : How are taxes assessed on the purchase of a short sale home in Miami ?
I have heard that the purchaser can be assess taxes based on the highest value of the home in the last three years rather than on what the purchaser actually paid. Is this accurate? Best answer:

Answer by Paul in San Diego
That does not make sense, unless the property is being purchased for far less than what it?s worth (like for half the value from a parent or something). The fact that it?s a short sale should not make the tax base higher than the purchase price. A short sale is usually a good deal, but it?s still usually right around the fair market value of a property.

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Source: http://www.lovefinanceinfo.com/2012/02/how-are-taxes-assessed-on-the-purchase-of-a-short-sale-home-in-miami/?utm_source=rss&utm_medium=rss&utm_campaign=how-are-taxes-assessed-on-the-purchase-of-a-short-sale-home-in-miami

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