Answer: Most of the time
Explanation: When Delaware County had a county-wide assessment done in 2020 (effective January 2021), they based the assessments on the value of the properties. Because of that, and because housing prices appreciate, home values will be more than the assessed value of a home. |
| Rich Small Team |
Answer: Some of the time
Explanation: The value of a home is as of a point in time. Whereas the taxes are assessed once a year and typically on a market at some poin tin the past therefore, your assessment of the property could be higher or lower depending on the market at the time of its assessment. For example, if there is a falling maret your assessed value could actually be higher because it us based on when the market was higher in the past |
| Eagle Appraisals |
Answer: Always
Explanation: The tax calculation is done based on a formula and sold comparables close to the size and location of your home. The actual value of your home should be assessed by a real estate professional that can preview your home to see the location, size and amenities. |
| Diane J. Malagreca |
|
| ProMatcher |
Answer: Never
Explanation: This question does not generally apply to California real estate with prop 13. |
| James Eastman Appraiser |
Answer: Not sure
Explanation: The assessed value is a guideline only. The assessor has a percentage they work with from the market value. |
| RU Appraisals,LLC |
Answer: Some of the time
Explanation: Not necessarily. In Washington State the value year lags the tax year. So with this being 2023 the effective date of value is actually January 1, 2022. For a lot of areas in Washington this is close to the peak in real estate values. And those values will have risen quite substantially for the year prior, but off from what current values will likely be, creating quite the sticker shock for most tax payers.
Aside from the lag in dates of value, it is true most of the time the assessed values will be less than market value. This is due to most taxing authorities not having the resources to challenge everyone on their taxes.
Where the county is more likely to be off on their assessments are for higher value properties, and or non conforming homes. If you do feel that you are being over assessed a good idea is to call a trusted appraiser in your area. You may find that they will advise you not to spend the money as the tax appeal approval rate is typically low and the savings you would receive on your taxes does not usually offset the cost of the appraisal itself. |
| Francis T Webster Appraisal Partners LLC |
|
| ProMatcher |
Answer: Never
Explanation: The assessed value of your real estate is set using what is called a "mass appraisal" process. This is entirely different than a determination of "market value," which is what most people who are buying and selling property are interested in knowing. The tax valuation process is often done once every so many years and then remains a static number (some states adjust the tax value after a sale to the actual sale price.) In other words, an assessed tax value could be less than, equal to, of more than the real "market value" of a property. |
| Trusted Appraisers Group (NC, SC, GA, TN, VA, NY, MD, PA, KY) |
Answer: Most of the time
Explanation: According to the last lecture I attended by the Collier County Property Appraisers office, the age of the home, value of the land, years the home was owned by the same owner, the SAVE OUR HOMES Tax credit among other things really effect the assessed value of the home. This is decided by the Property Appraisers Office and if you do not agree with the tax, it can be challenged. |
| Premiere Plus Realty Co |
Answer: Always
Explanation: Assessed value has very little to do with purchase value. |
| Remax Platinum |
|
| ProMatcher |
Answer: Some of the time
Explanation: Sometimes it's outdated |
| A+ Realty and Construction LLC |
Answer: Most of the time
Explanation: Assessed Value is based on the last selling price of the property and increases by only 2% per year. In a hot market like the one we have now, Assessed Value is lower than current value due to the sharp increase in prices. |
| Wall Street Appraisal |
Answer: Some of the time
Explanation: Assessed valuations and their yearly valuation are driven by the direct demand of the numbers of buyers looking for them. Also the number and amounts of improvements made upon the property. In a seller's market with newer construction homes with low inventories...the assessed values can raise to a level of market valuation. In a buyer's market with a larger inventory of houses available...the assessed valuation can be somewhat less than market value. |
| eXp Realty/The Escalante Group |
|
| ProMatcher |
Answer: Not sure
Explanation: Years ago you could count on this most of the time however since the crash - the assessed value can be the same, more or less than the opinion of value on a specific date. Assessed values are based on yearly assessments. Residential appraisals have an effective date. |
| Cascone Appraisals LLC |
Answer: Some of the time
Explanation: Not all the auditor data is up to date |
| Real Estate Solutions |
Answer: Some of the time
Explanation: Both Illinois and Wisconsin use fair cash value to set assessments. In Illinois, 35 ILCS 200/1-50 defines "Fair cash value" as: the amount for which a property can be sold in the due course of business and trade, not under duress, between a willing buyer and a willing seller. |
| Fast Appraisals |
|
| ProMatcher |
Answer: Some of the time
Explanation: Assessments are not always up to date. |
| Capital Appraisal Services |
Answer: Always
Explanation: Almost always the assessed value of your home is what you pay taxes on. |
| Bay Home Relief - House Buyers |
Answer: Most of the time
Explanation: The majority of the time the assessed value is less than the sale value of your home. The assessed value can be the same amount as the state equalized value (SEV), but in some instances, such as when the home has not changed ownership for a long period of time, the assessed value is less then the SEV. The general rule of thumb is multiplying the SEV times two to get an estimated value of your home. Again there are several other factors that need to be considered such as the condition of your home and the homes comparable to yours that have recently sold. |
| Real Living Kee Realty |
|
| ProMatcher |
Answer: Most of the time
Explanation: see above |
| AEXACT APPRAISAL COMPANY |
Answer: Some of the time
Explanation: Based on the last time the home was assessed. |
| Hudson Real Estate |
Answer: Never
Explanation: Assessments are only a way for the government to collect taxes and n ot reliable in an ever changing real estate market. |
| EXP Realty LLC |
|
| ProMatcher |
Answer: Some of the time
Explanation: The assessed value os determined by an Assessor and can be higher ot lower than the sale of your home. |
| Key Realty |
Answer: Some of the time
Explanation: Tax and actual value are not always entirely close |
| Ron Rodgers- Ryan Real Estate |
Answer: Most of the time
Explanation: Most of the time this is true. But market conditions impact value more than the last assessment and a home is worth what someone will pay for it. Bottom Line |
| KF Home Sales @ Quality First Real Estate Group |
|
| ProMatcher |
Answer: Some of the time
Explanation: Sometimes this is true, but there is no uniformity in the assessed value of a property relative to its actual value because the assessor uses a mass appraisal formula to assess value, which is often inaccurate. |
| V.A. Solano & Associates, Inc. |
Answer: Most of the time
Explanation: Our property appraiser usually appraises at 90 percent. Yours may be different. |
| RE/MAX Realty Group |
Answer: Some of the time
Explanation: it depends on the market that we've been on. for instance since the real estate bubble the taxing counties have struggled to keep up with the fallen values of properties. so we have seen where the values have been higher than the sale prices. |
| Your Husband & Wife Real Estate Team with Charles Rutenberg Realty |
|
| ProMatcher |
Answer: Some of the time
Explanation: This varies from city to city and county to county. |
| RE/MAX Results |
Answer: Most of the time
Explanation: I understand that every property is assessed every so many years, so unless it was just assessed within the last few months, the assessed value will be off from the actual value of your home. |
| Home 2 Home Services, Inc. |
Answer: Some of the time
Explanation: The assessed value of your home is sometimes less or more than the value of your home. |
| Rinehart Realty |
|
| ProMatcher |
Answer: Some of the time
Explanation: As a tax appeal appraiser for 30 years, I can only say this is sometimes true, but certainly not always. Each situation must be analyzed individually. In many towns where the equalization ratio is low, and there hasn't be a revaluation in a while, then most properties will have assessments that are less than market value. |
| Todd G. LiPira, SCGREA |
Answer: Some of the time
Explanation: There are times when the market will spend more for a house due to shortness of supply as well as upgrades and renovations completed while property has not received newly assessment. |
| CRG |
Answer: Most of the time
Explanation: Most of the time the tax value is slightly below the amount that you will sell your home for, however, it is a good starting point with which to base your sale price. |
| BeBe's Beauty (Jeunesse Global) |
|
| ProMatcher |
Answer: Most of the time
Explanation: This is generally true. |
| Askew Realty |
Answer: Some of the time
Explanation: The assessor typically values a property somewhat less than full market valued to account for unknown differences. This is in a typical market, this does not apply to rapidly declining markets. |
| Accurate Appraisals USA |
Answer: Most of the time
Explanation: Generally the assessed value of a home is based upon the local municipal tax structure which varies but is usually calculated at 1/3 of market value in the midwest. |
| Epoch Property Inspections |
|
| ProMatcher |
Answer: Some of the time
Explanation: Assessed values is NOT a good indicator of market value |
| Re/MAX Southwest - The Jackson Group |
Answer: Most of the time
Explanation: Assessed value most times is lower than the sale price of homes |
| Coldwell Banker |
Answer: Some of the time
Explanation: This is something that is changing with the current market compared to what was happening in the last few years. |
| EA Realty LLC |
|
| ProMatcher |
Answer: Most of the time
Explanation: I am a Realtor |
| CSSCPSG-Student-Judge:Vicente-B: Galindo. |
Answer: Always
Explanation: Tax value is usually half the sale value or less. |
| Coldwell Banker |
Answer: Never
Explanation: Tax values may be updated every 4 to 8 years...markets swings..think about it...We never use tax values as market values...shame on those who do. Do you homework. |
| LandPro Real Estate, Inc. |
|
| ProMatcher |
Answer: Most of the time
Explanation: The assessed value is usually less than the sales value. Buyers prefer the assessed value and sellers prefer the market value |
| Kea Interiors |
Answer: Some of the time
Explanation: Assessed value and actual value are all over the place |
| AnDel Appraisals |
Answer: Always
Explanation: Designed that way in most jurisdictions. |
| S & S Southwestern Management |
|
| ProMatcher |
Answer: Most of the time
Explanation: Yes |
| Lindhaven Properties, LLC |
Answer: Some of the time
Explanation: That all depends on the last time the town assessed the home. |
| REMAX White House |
Answer: Most of the time
Explanation: If market is not "distressed" |
| Real World Appraisal |
|
| ProMatcher |
Answer: Some of the time
Explanation: Ambiguos question. Too many variables. |
| Coldwell Banker Reliable Real Estate |
Answer: Some of the time
Explanation: It depends on many factors including local market, length of time on recent assessment, etc. |
| D & K Appraisals LLC |
Answer: Some of the time
Explanation: It seems to be the case--assessors are not always accurate. |
| Sacramento Valley Appraisal |
|
| ProMatcher |
Answer: Some of the time
Explanation: some time true |
| Corryn Appraisal Services |
Answer: Most of the time
Explanation: Tax appraisals performed by your local courthouse are very general and not much detail goes into them. |
| Icon Homes LLC |
Answer: Not sure
Explanation: It really depends on where you live.....remember, LOCATION, LCOATION, LOCATION |
| ProStead Realty |
|
| ProMatcher |
Answer: Always
Explanation: If you are interested in how this is calculated I am happy to explain it. |
| West USA Realty |
Answer: Most of the time
Explanation: Typically. |
| LAKE AREA APPRAISAL FIRM |
Answer: Some of the time
Explanation: Tax assessments vary greatly by area. |
| TriCoast Appraisal, LLC |
|
| ProMatcher |
Answer: Some of the time
Explanation: Methods of tax assessment varies from location to location but typically the Tax Assessor's Living Area differs from the GLA as developed by the appraiser. It is not unusual for the Tax Assessor to be incorrect especially on multilevel homes. On multifamily homes, the Tax Assessor uses a "multiplier" developed by the state of Alabama to be used on all multilevel properties and use this to estimate living area for Tax Assessment purposes. |
| Comprehensive Appraisal Solutions |
Answer: Never
Explanation: They are trying to collect taxes and the market value is based on surrounding sales and what someone is willing to give you for your home. |
| RLN Properties LLC |
Answer: Some of the time
Explanation: This varies and every home is different. |
| Real Appraisals |
|
| ProMatcher |
Answer: Most of the time
Explanation: Keep in mind all states and counties may use slightly different formulas to arrive at these calculations. |
| Keller Williams Realty Atlantic Shore |
Answer: Always
Explanation: The SEV is about half of the actual value of the home. |
| Nicholas Home Inspection & Maintenance, Inc. |
Answer: Most of the time
Explanation: 99% of the time - there may be unusual situations if sales prices suddenly drop - the assessor needs to play "catch up". |
| Haven Express @ Keller Williams Arizona Realty |