I inherited a home that belonged to my grandmother and my father I inherited my fathers portion as he is deceased my uncle inherited from my grandmother. I bought my uncle out at fair market value and my property taxes were re assessed even though I owned 1/2. Is this correct
1 Answer from Attorneys
The reassessment is correct but the new assessed value should only apply to 50% of the taxes. The other half of the taxes should be calculated at the old value.