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When families hold vacant land for years, it stays underassessed and taxed low. A new buyer can face a sudden spike in property taxes once the assessment updates to market value. The jump can be massive.
When families hold vacant land for years, it stays underassessed and taxed low. A new buyer can face a sudden spike in property taxes once the assessment updates to market value. The jump can be massive.
Vacant land is frequently underassessed, held for decades, owned by families long term. So the gap between current taxes and your future taxes can be massive.
