Home SALES values -vs- ASSESSED values?

 I will be listing my home for sale early 06. I have done a lot of research
at the county courthouse for similar homes in my area and have found that
the "assessed" value and the "sale" values are very far apart, some as much
as double. Can someone put me onto a reference on how to make sense of all
the data I have acquired?

chaz

 

If the purpose of getting assessed values was to help you price your home
for sale you have wasted your time.  Assessed values are for taxation
purposes only and for a variety of reasons have little or no relationship
to the current market value of a property.  Actual methods of determining
the assessed value vary greatly from state to state and often county to
county.  In any case they are of no value in setting an asking price.

 

As I stated, I have gleaned both the latest sales figures and assessed
values. In comparing them I found that the assessed values were in some
cases WAY off what the local sales have reflected.

thanks

 On Mon, 12 Dec 2005 17:48:47 -0500, someone wrote:


Yeah so what duh hey, what's your point?


Reply to NG only - this e.mail address goes to a kill file.

 
. . .(snip). . .

   In many places,  that's the way it's supposed to be,  by law.     I have
an assessed value which is supposed to be 50% of an estimated sales price,
and a "State Equalized Value"  which is again different.

Although the assessed value is supposed to be 50% of an estimated sales
price,    there tends to be only a moderately strong correlation between the
estimated and  actual sales prices with the actual about 10% higher in my
town.

If you can get your hands on the Multiple Listing Book or some other source
of recent sales prices,  you can plot your own correlation between assessed
and actual.

Regards
  Old Al