Re: home assessment - Posted by Rob FL
Posted by Rob FL on June 02, 2000 at 11:46:47:
If by assessed value you mean the value given to a property from the local government for property tax assessment reasons, then the answer is “yes”, because this value may or may not be accurate at all.
The assessed value is a ballpark figure that may not even be close to the actual value of the property. I have seen properties assessed for much higher than it is really worth and also much lower.
There a really only 3 methods for determining the true value of a property: comparable sales method, replacement cost method, and the net income method. For a single-family home though the comparable sales method is the only way to go.
JP Vaughn wrote a great article on this subject at http://www.creonline.com/art-132.html