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We are about to purchase a house from an old lady who pays very low RE taxes — probably about a 1/3 (if that) of what’s typical for the neighborhood/house. According to PShark, currently there are “Senior Citizen” and “School Tax Relief” exemptions.

“City’s Assessed Value” is in the ballpark, but “Transitional Assessed Value” is quite low, and then “Transitional Exemption Value” is reduced further by the exemptions.

So, when all is said and done, and my tax bill comes in next year — which of these numbers will stay the same, and which should I expect to change?

Thanks!