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Why is my home listed at so much more than similar models?

I noticed that several homes in my development, the same model as mine, are for sale at about $10,000 less than mine, as depicted on the Zillow map.  (Please note:  I am not selling my home - only investigating this for tax purposes.)  This doesn't make sense - our homes have the same features and are within 300 feet of each other!  I'm concerned and would like to speak with someone at Zillow about this - how do I do so?
  • December 29 2011 - Summerlin North
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Answers (3)

Hello again Toby,

Assessed value in Nevada is figured at 35% of market value, so if you are using market value against your current assessment, you are missing the mark.  Send me your address and I will be happy to give you a ball park market value of your home, so you can determine if you want to contest your taxes or not.  The market value I send you can be used to contest your taxes.

Best wishes,

  • December 29 2011
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Yes, Steve, your response does alleviate my concerns.  I am considering asking the county to review my property valuation so as to lower my taxes, and Zillow's info was the opposite of what I was hoping to see.  But if Zillow is not credible for such purposes then it's numbers won't matter in this case.  

I am still a bit curious as to why my house's value is so much higher than my neighbors, but it's not worth spending any more time on it.

Thanks so much for your advice!
 
  • December 29 2011
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Hello Toby,

You said that your house is listed $10,000 more than others currently on the market, but that your home is not on the market.  Can you clarify?  I will tell you this regarding what appears to be your concern; In a declining market like Las Vegas, the algorithms that Zillow uses don't necessarily work.  No appraiser, or tax assessor would use these for resale or even tax purposes.  So, not to worry. Does this assuage your concern?

Best of luck, and thanks for reading.
  • December 29 2011
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