Why Is the Assessed Value Different Than What You Say My House Is Worth?

If you’re planning on buying or selling a house in the near future, you want to get a good deal. This means you should collect all the information available, figuring out exactly how much your house is worth. One of the first places you might look at is the assessed value or the home’s tax value. Why is this different than what an investor or real estate professional might say a house is worth?

The Assessor Looks at Different Features

A county assessor calculates the tax value of your house. There are several factors involved in the assessed value. Features include income from the property, replacement costs of the house if a fire broke out, and how similar homes in the area have sold for. You want the assessed value to be lower because you owe more money in taxes if the assessed value is too high. 

An Investor or Agent Uses Market Value

A professional real estate agent or investor will use market value to determine how much the house is worth. This calculation is relatively straightforward. If you were to sell your home today, how much would someone be willing to pay for it? The more someone will pay for it, the higher the market value. Market value is not the same as calculating the tax value of the house, which is why the numbers are different.

Work With a Real Estate Investor

If you want to get as much money as possible for your home, you should take a cash offer from a real estate investor. Work with a real estate investor today to figure out how much your house is worth!

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