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Investors & landlords
tax bills do not necessarily reflect the actual FMV of land and the building at the time of acquisition. you'll know this if the total of the two don't add up to your tax basis, for example, land may be valued at only 10% of assessed FMV (not appraised value) so if land had an assessed value of 70K only $7K may show up on the tax bill.
March 19, 2021
12:46 PM