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    alliance's Avatar
    alliance Posts: 1, Reputation: 1
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    #1

    Feb 28, 2007, 09:19 PM
    Will my property tax assessment increase I buy out my sisters portion of moms home
    Will the property tax assessment rate increase from its very low rate to the current and much higher riate when I buy out my sisters portion of our mothers home which we all inherited?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Mar 1, 2007, 08:48 AM
    Probably not.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #3

    Mar 1, 2007, 09:01 AM
    Is should not increase but simplify to changing the names on the deed. If you treat this as a purchase rather than an interfamily arrangement you may catch the eye of your assessor.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Mar 1, 2007, 09:08 AM
    That is an issue, but the sale is not normally reported to the assessor.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
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    #5

    Mar 1, 2007, 09:50 AM
    I just picked up on a word I missed in the original post. "... which we all inherited" Now it seems there may be more than brother and sister involved. The result will probably be OK.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #6

    Mar 2, 2007, 11:57 AM
    I agree!
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