What is initial annual property tax bill with a property tax, Taxation

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What is initial annual property tax bill with a property tax

Problem

You are renovating a building in OTR that you can acquire for $300,000 that you plan to make $400,000 of improvements and turn into an apartment building that will be valued at $1.2 million after rents are stabilized. What is your initial annual property tax bill with a 10-year property tax abatement if effective tax rate is 2.7% of assessed value?

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