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Assessed Value Impact

Considering the purchase of a home in a subdivision that will soon have multi-unit buildings built nearby, essentially one block over.  There is also undeveloped land about one block over that is owned by the local school district for future elementary school expansion.  Will the multi-unit development negatively affect my prospective home's assessed value?  And/or does the future school offset?
  • July 09 2012 - Ankeny
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Answers (1)

Hello;

Just to clarify, there may be a difference between a properties' Assessed Value and Market Value. This is because Assessed Value is determined for tax purposes and doesn't really take in to account as many factors as Market Value actually does.  In Iowa, Assessed Value is supposed to reflect actual Market Value, so external variables (such as what you describe) may be accounted for and have an impact on  Assessed Value. However, it can be difficult to say which way the value would go.

If you were considering a strictly Market Value, price point of the multi-unit development, and even curb appeal of the multi-unit development may influence values of homes within a nearby subdivision.



You can make predictions on potential impact, but there is unfortunately no cut and dry formula to determine how assessed values may be impacted in a situation such as this.

  • March 06
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