Megan's Law deals with information about the neighborhood. Under the measure, sex offenders must register their addresses with local police, and in certain situations this information must be made public. Many questions remain unanswered about the increasing complex disclosure responsibilities of sellers and agents. Until such time as the law clarifies those obligations, more lawsuits will likely be filed asking courts for direction. Lawyers can help soften the blow of that tax burden for clients who buy houses or other real estate by addressing the following tax-related issues that arise both at the time of purchase and later on.
Taxes can vary greatly within a given state.
For that reason, a real estate buyer should conduct tax due diligence before committing to a purchase. Prior to buying real estate, clients often will ask how much the taxes are. The county assessor holds the key to the answer. The job of most assessors is to determine the market value of real property, and a recent purchase price is compelling evidence of market value. So do the math and estimate what the taxes might be if a reassessment were done.