I am no tax expert, but I do believe it is based on the sale price of the home. If you purchase a turn key home make sure you pay for that as a separate item or your taxes will be assessed on the sale price.
Example. House turn key for sale at 200k. Offer 200k but pay 35k cash for turn key package. Tax based on $165 sales price. I have never understood why people would want to pay tax on furniture/towels/spoons, etc..
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