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Does a real estate tax exemption (based on age or "homestead") affect the Zestimate?

For example (in round numbers):
A Zillow estimate shoulds a market value of $150,000.
Here, the taxable amount is 1/3 of market value yielding a taxable amount of $50,000.
At a tax rate of 6.94905%, the tax would be $3,475.
However, due to tax excemptions particular to the owner, the actual tax rate is $1,448.
Therefore, the question is whether the lower net tax paid by the owner is reflected in the Zillow estimate in some appreciable manner.
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August 11 2013 - Quincy
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Answers (4)

Profile picture for wetdawgs
Im not 100% sure I'm following your post, so apologies if I'm going in the wrong direction.   (Please add more clarification is that is the case.)  If Zillow shows a Zestimate of $150,000 (which is assuming standard condition, no furniture) and you've received two CMAs one at $150,000 and one at $180,000, it seems like Zillow is fairly close. 

What value range does Zillow present?   You can learn more about the value range in the FAQ link provided by the other poster.

A Zestimate is not an appraisal or CMA, but a number calculated from public facts.  It is presented with a value range, which IMHO is more important than the one number called a Zestimate.   Zillow does not know condition of a property and has no way to take that into account if an owner adds it.
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August 11 2013
Profile picture for DavidBartelt
We are, then, looking at market values only (which, BTW, is making sense to me) but I have two (and will get more) "market value estimates" and they are, respectively, $150,000 (but will not sell unless stripped of all furniture and carpet and niknaks), the other being "clean the carpets, etc." and all is well at $180,000.  This does not make sense to me. The diversion is so extreme it calls into question the Zestimate. I know it is a complicated issue but these numbers are not even close.
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August 11 2013
Values are market based, just like an appraiser would use. We as appraisers don't adjust for (tax) exemptions, we look at the market and what homes sell for. I would Zillow does the same, BUT Zillow mentions it here, click and scroll down.....

http://www.zillow.com/help/what-is-a-zestimate/
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August 11 2013
No one, except certain Zillow employees, knows the algorithms used to compute a zestimate.
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August 11 2013
 
Related Questions
Does a real estate tax exemption (based on age or "homestead") affect the Zestimate?
Profile picture for wetdawgs
Latest answer by wetdawgs
August 11 2013 | 4 answers
  • Asked by DavidBartelt
  • In Taxes
  • August 11 2013
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