- Find a Real Estate Professional
- Alabama Realtors®
- Alabama Mortgage Lenders
- Alabama Home Improvement Pros
- Alabama Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- More
Answers (9)
- Jason Nedrow, "Jason Nedrow"
- Contributions:241
There are three "values". One is assessor value as you had mentioned before, one is appraisal value (which is for the bank) and the other is market value. Market value is a daily evolving number which can only be determined by running current market statistics. The only way to determine true market value is to have a professional in the market along with the statistics to come to a range of market value. Therefore, there is no way the assessor can keep up with the ever changing market. I hope that helps.
- Jeff Persons, "Jeffinez"
- Contributions:15
As Realtors we are taught to completely ignore what the tax assessors say about a property. Their numbers do not help anyone establish fair market value for a home.
Just be glad their number for whatever reason is lower so you pay less tax.
Its best to get an Accredited Buyers Agent to do a comparative market analysis, looking at the sold properties for the last 6 to 12 month. Now you have a number you can hang your hat on. The whole quantitative analysis will take him 30 minutes or so but with rigor he should be able to give you a fair market value number which you should not go over.
Tell your Buyers Agent that you want an UNEDITED list of similar sold properties. Dishonest agents may try to give you just the high priced sales.
Hope this helps, Jeff Persons, RE/MAX Destiny Accredited Buyers Agent - http://wesellboston.net/
Just be glad their number for whatever reason is lower so you pay less tax.
Its best to get an Accredited Buyers Agent to do a comparative market analysis, looking at the sold properties for the last 6 to 12 month. Now you have a number you can hang your hat on. The whole quantitative analysis will take him 30 minutes or so but with rigor he should be able to give you a fair market value number which you should not go over.
Tell your Buyers Agent that you want an UNEDITED list of similar sold properties. Dishonest agents may try to give you just the high priced sales.
Hope this helps, Jeff Persons, RE/MAX Destiny Accredited Buyers Agent - http://wesellboston.net/
- austinbubble .blogspot.com, "Mr. Bubble"
- Contributions:163
It a falling market, the tax assessor's value will be lagging prices. Meaning, it will be higher than your home value. This is a falling market over 350k.
- Don Groff, "Austin Texas Realtor"
- Contributions:355
In Austin the tax assessor's value is usually lower than the market value of the home. This is no longer true in certain parts of Austin and Round Rock. To get a true market value you need to look at what the comparable homes in the neighborhood are selling for. That is your true determination of value.
- ConnectiveRealty
- Contributions:2
The tax assessor value is generally lower than the market value. The market value is determined by how much a buyer is willing to pay for it and how much a seller is willing to sell it for.
However it's always possible that the property is not listed at market value either. It could be that the sellers owe more than it's worth and are just trying to break even on the sale.
The only way to accurately know the market value of a property (and therefore the listing price) is to have a REALTOR complete a comparative market analysis. This analysis uses sold properties which they compare to the property to be listed to come up with a recommended listing price, that is, a recommended market price.
There have been times however when the market value turns out to be less than the tax assessor value.
- Robert Guice, "ARC6676.com"
- Contributions:33
Are you planning to sell your home or do you just want to know the value?
As Thomas mentioned previously you always want your tax assessed value to be low.
When you plan to sell you would need to have a realtor review comparable sales & listings in your neighborhood (or immediate area) to determine the market price range.
- Thomas Brintzenhofe, "BerksRealtor"
- Contributions:41
LilyRose12, I would contact a local Realtor or review with youe current one. If you do not have one let me know and I will refer you to a top agent in your area for the answers.
Good Luck!
Good Luck!
- LilyRose12
- Contributions:2
Will the assessor's value change on the date of sale? I cannot find any information on the assessor's website about it. I know that these laws vary by state and county and I am not familiar with the laws of Travis county.
- Thomas Brintzenhofe, "BerksRealtor"
- Contributions:41
Assesors value is always lower than market value and is only used to calculate taxs. Market values are what you should be concerned with but keep in mind the higher Assesment Value is the higher your taxs will be. To get a quote on taxs based on Assesment value you will need to speak with an experienced agent in that area. I will put you in touch with a Top Producing Realtor to answer your questions, just give me a call or email. Best wishs!
why is the assesor's value so far below what the property is selling for?
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.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.