“Assessed Value Versus Market Value”
When you receive a tax statement on your home, you may notice that you home’s tax assessed value is significantly different than its market value. It doesn’t mean you’re being undercharged or overcharged on your property taxes or that your home wasn’t appraised properly. Assessed values are used to determine property taxes instead of market values because market values can be volatile and are affected by other factors that also tend to fluctuate, like the economy. While tax assessors use some of the same criteria to determine value, their methods of calculating property value for tax purposes produces more consistent values year-over-year than market values that are largely based on the recent sale prices of similar homes nearby.
There are many, many details that need to be considered and dealt with during every successful real estate transaction; all are important, but taxes and other financial aspects often lead the list. We’d love to add you to our ever-growing list of successful house buyers and sellers. Whether you are buying or selling, we are the seasoned, knowledgeable professionals you’ll want for the job. We invite you to stop by our office; we’d like to show you what we can do for you.
“OUR SUCCESS HAS BEEN BUILT ONE SATISFIED CUSTOMER AT A TIME.”
