During construction, property taxes are based upon the assessed value of the land only until a certificate of occupancy for a new home has been issued by the governing jurisdiction. When the certificate of occupancy is issued, the property will be re-assessed as a home for the next complete property tax billing cycle. This re-assessment from land only to a finished home results in an increase in assessed value of the property and a corresponding increase in property taxes from the year a home is completed and sold to the next full tax billing cycle. In order to estimate what your property tax will be when reassessed as a home, please use the property tax calculator below.
Note: This is a spreadsheet file. Works best in Microsoft Excel or Google Sheets.