The answer is probably not. Well, what’s the deal with tax assessed value and how does that affect my home’s market value? Are they the same or different?
Here’s the good news: nine times out of ten, your home’s market value is significantly higher than the tax-assessed value.
This is actually great info for both buyers and sellers.
On the selling side, rest assured your home could be worth 20-100% more than the tax-assessed value. The easiest way to find out is to get your FREE market analysis here ⬇️
On the buying side, the key thing to understand is that tax-assessed value is usually far lower than what the house will sell for. So when looking at what to offer on a house, don’t use the tax-assessed value, here’s what you should use:
- Use your history in searching, what other homes have been on the market – and are now pending.
- Use your agent’s experience and the current days on market of the home, along with offer status – in other words, multiple offers two days on the market means the house is selling above asking price, regardless of the tax assessed value.
Consider a low tax-assessed value is saving property tax dollars. Nothing more.3