Purchasing new home classified as vacant lot

Hi everyone,

First time poster and home buyer – looking at buying a property that is being marketed as a 2 family. The home is brand new; it appears the previous house was razed several years ago and the new house was built up very recently. As a result, property tax searches currently classify the address as a vacant lot (with an extremely low assessed value and taxes as a result).

This means that I should expect to pay (high) taxes based off of an uncapped assessed value, correct (since I assume the AV won’t be subject to any caps when the proper classification hits)?

Are there any other things I should watch out for when exploring a brand new property like this? I assume my RE attorney will make sure things like the CoO are in order?

Thanks in advance for any help!