I received a call today asking why the tax assessment and asking price are different on a home we have for sale.
With all of the angles of information available to consumers today it is easy to get lost on one train of thought.
Relying on an investor class to be 100% accurate on how to buy and flip homes is not the best way to learn either.
The Answer to me is easy.....
The opinion of the tax authority vs the actual market value are almost always different unless it sold very recently and was recorded. Property values change and therefor market value opinion changes. The local government is normally way behind on market trends. Over the on the long term property values typically increase with some downs. The 2008-2013 recession caused a significant drop in market value while some taxing authorities did not adjust for that drop in value.
Don't rely on one source for your opinion of value
See what is available in the market that is of similar size, location, construction. Tour those options! DO NOT rely on the government to put value on your home or potential home. Remember, they paid how much for a hammer?
If you want to know your property MARKET value, Start HERE with an automated valuation then we can dial it in with REAL MARKET knowledge.