Property tax appraisal

Profile picture for StMMer
What is the difference between an "assessed value" and a "fair market value"? My property taxes jumped $17,000 dollars in one year. They are telling us the dwelling is worth 90,000. Does that include the unattached garage when they say dwelling? Or is it just the home itself? Today if we were to sell our house it would not appraise at the assessed value, most likely would be less.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

May 12 2011 - Fairfield
 Share
 RSS

Replies (1)

Profile picture for wetdawgs
Tax assessed values vs market values are apples vs mangos in most communities.  Even where states attempt to make the tax assessment close to market value, the data lag a year or two behind the tax year.

"assessed value" is what the tax assessor labels it.

"fair market value" is what someone would pay you to buy the house.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

May 12 2011
 
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion
Related Discussions
Profile picture for wetdawgs
DiscussionProperty tax appraisal
  • Last reply by wetdawgs
  • May 12 2011
Related Articles
GuideBeware of Scams and Other Internet Fraud
GuideMost Popular Zillow Questions
GuideClaim Your Home
GuideLender Review iPad Sweepstakes
GuidePhoto Uploading Tips
Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy