Is Your Property Tax Value The Same As What Your Home Can Sell For?
by Eric Peterson
on Wednesday, October 30th, 2019 at 11:52am.
This is a popular question whenever we do our home selling seminars. The short answer is no.
When estimated a sales price for your home we want to compare your home to other similar homes that have sold recently. From there we want to make adjustments for specific features and benefits about your home and add in market knowledge from our side and where we expect the market is going.
The reason a tax value may not be accurate is the value of your home is established early in the year based on sales largely from the previous year. As I am writing this message some of those comparable sales are close to 2 years old and since we are in an appreciating market they may not accurately reflect what is happening in the current market.