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 kenne232
Joined: 02 Nov 2008
Posts: 2
1.98 Dollars($)
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 Posted: Sun Nov 02, 2008 3:21 pm Post subject: In a cash out refinance, will the taxes adjust if the sole t |
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| In a cash out refinance, will the taxes adjust if the sole title owner adds another person to title...A person I know, did a cash out refinance. She has been the sole owner on title for the entire time the home has been owned. In the refinance she added her boyfriend, now husband, on the title to be joint holders. She was notified her taxes have adjusted up because of the fact there is a new owner on title with her. This does not seem right to me. Any help would be appreciated |
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shane
Joined: 03 Dec 2007
Posts: 121
Location: Orange County, CA
29.93 Dollars($)
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| Posted: Sun Nov 02, 2008 4:59 pm Post subject: |
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When a non-related person is added to title that can trigger a property tax reassessment. To get the exact conditions which a property can be reassessed your friend should contact the tax assessor's office for the county which their home is in.
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Shane Milne
TheBestHomeLoans.com
Mortgage Broker
Direct: 949-273-4161
Lending in 50 states + the District |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Sun Nov 02, 2008 7:46 pm Post subject: |
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Hi kenne!
Welcome to forums!
Shane is absolutely right. As you have added a new owner, the property taxes are re-assessed and thus have been been adjusted by the tax department. Your friend can contact the executives of the tax department and get the details.
Feel free to ask if you have further queries.
Sussane |
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