The assessed value of your home (the value you pay taxes on) is typically less than the sale value of your home.

Answer: Most of the time
Explanation: The assessed value is primarily used for calculating property taxes, not for determining the exact market price of a property. While market value can fluctuate frequently due to changing conditions, the assessed value tends to remain more stable, as it is updated less frequently. However, it’s important to note that this is generally true, but not always—tax assessment practices can vary widely between counties, meaning some areas may adjust assessed values more regularly to align with current market conditions.

Answer: Most of the time
Explanation: TAX ASSEMENT VALUE ARE COMMONLY LESS THAN MARKET VALUE.

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.

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.

Answer: Some of the time
Explanation: The short answer is the county tax assessors do not appraise properties in the same manner as a state licensed appraiser is required to appraise property. When appraising a property, private appraisers perform a thorough inspection and analysis. They carefully evaluate comparable sales, location, square footage, construction quality, renovations, and other indicators of market value. For commercial properties, appraisers also utilize income capitalization and other advanced approaches. The appraiser synthesizes all data gathered into a detailed narrative appraisal report supporting their final value conclusion. This rigorous methodology aims to establish true market value at the time of appraisal. County assessors utilize mass appraisal techniques to efficiently assess large numbers of properties. With limited staff and high volumes, assessments apply formulas and modeling rather than physical inspections. Assessed values may not reflect spikes or dips in the market. Appeals allow owners to contest inaccurate assessments. While county assessed values provide a baseline for taxation, private appraisals offer a detailed property valuation based on expertise and market analysis. Appraisals determine lending decisions while assessments calculate taxes. Recognizing these key differences helps owners make informed financial choices regarding their real estate.

Answer: Never
Explanation: This question does not generally apply to California real estate with prop 13.

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.

Answer: Some of the time
Explanation: Homes are re-valued by the county every 8 years. Therefore, comps are for that time period in which the county re-valued your home. That means comparable sales that the county used can be over 7 years ago.

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.

Answer: Always
Explanation: Assessed value has very little to do with purchase value.

Answer: Some of the time
Explanation: It depends on the location and condition of the home.

Answer: Some of the time
Explanation: Sometimes it's outdated

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.

Answer: Most of the time
Explanation: In California when a property sells it it assessed at its sale value. After the most recent sale the assessed value is determined by a percentage prescribed by Proposition 13 and most likely will not be what a current owner may receive in a sale. However once a current owner sales the property it would be assessed at that amount.

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.

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.

Answer: Most of the time
Explanation: Your assessed value in the State of California cannot be raised more than 2% per annum from your original purchase price, so most the time your assessed value is less than the sales value, however, there are times when the market drops and as we saw in 2009 and 2010, assessed values can be more than the sales value of a home. If you plan on staying in the home there is a way to appeal the value of the home with the Property Tax Assessor. If you need more details on how, please reach out to me. The cost to appeal to the Tax Assessor is free.

Answer: Some of the time
Explanation: Assessments are not always up to date.

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.

Answer: Most of the time
Explanation: I have always found this to be true, but didn't want to answer Always, but i think it is.

Answer: Most of the time
Explanation: see above

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.

Answer: Some of the time
Explanation: In California, property taxes are based upon prop 13. The current value your home has nothing to do with the property assessment.

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.

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

Answer: Most of the time
Explanation: every home is different, many variables.

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.

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.

Answer: Most of the time
Explanation: Yes, in most cases the tax value of your home is less than the market value.

Answer: Some of the time
Explanation: This varies from city to city and county to county.

Answer: Some of the time
Explanation: The assessed value of your home is sometimes less or more than the value of your home.

Answer: Always
Explanation: The tax accessment is based on state you live property tax code. 1? of home value is usually a good way to factor what you'll pay in taxes per year.

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.

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.

Answer: Most of the time
Explanation: In todays market that is very accurate.

Answer: Most of the time
Explanation: This is generally true.

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.

Answer: Most of the time
Explanation: It is only done every 3 years so there are some things it could be missing like lots of damage or upgrades

Answer: Some of the time
Explanation: Assessed values is NOT a good indicator of market value

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.

Answer: Most of the time
Explanation: One more trick question --- As soon as anybody admits assessed value is less than real value, the next question is, "How much less?" and then, "What is the ratio of assessed to value?" and all of these questions paint the obvious direction one should take. ENGAGE AN EXPERT for any and all of these types of questions. Always!

Answer: Most of the time
Explanation: I am a Realtor

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.

Answer: Some of the time
Explanation: Due to the changing market and due to REO/Short Sales and Foreclosure this is not always true.

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

Answer: Always
Explanation: Designed that way in most jurisdictions.

Answer: Most of the time
Explanation: true

Answer: Most of the time
Explanation: Yes

Answer: Most of the time
Explanation: If market is not "distressed"

Answer: Some of the time
Explanation: You pay taxes based off of the sales price of your home. When home prices were inflated you can ask the tax accessor for a re-evaluation of your home value to pay a lower tax rate. This is only good for a year and must be done every year or your taxes will be estimated on your home price vs. current market value.

Answer: Some of the time
Explanation: Ambiguos question. Too many variables.

Answer: Some of the time
Explanation: It seems to be the case--assessors are not always accurate.

Answer: Some of the time
Explanation: The assessed value for tax purposes is typically a benchmark of value sans market influences and improvements to the home. It will not always reflect the true value of the home. Simple economics of Supply and demand will always factor in.

Answer: Some of the time
Explanation: some time true

Answer: Not sure
Explanation: It really depends on where you live.....remember, LOCATION, LCOATION, LOCATION

Answer: Always
Explanation: The assessed value of your home is always less than the sale value of your home.

Answer: Always
Explanation: If you are interested in how this is calculated I am happy to explain it.

Answer: Some of the time
Explanation: Tax assessments vary greatly by area.

Answer: Most of the time
Explanation: The assessed value is not based upon the current marketing value of your home.

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.

Answer: Some of the time
Explanation: This varies and every home is different.

Answer: Some of the time
Explanation: this depends on the value of the home and the taxation where it is located.

Answer: Most of the time
Explanation: Keep in mind all states and counties may use slightly different formulas to arrive at these calculations.

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".