Tax Assessors Value Vs. Real Value - Posted by atlantarei

Posted by michaela-ATL on October 08, 2003 at 13:41:46:

It depends on where you’re looking. Intown that’s definitely the case. In Grant Park the prices have probably trippled or quadrupled in the last 12 years, but the tax values have not gone up to that extent. I’m pretty happy about that. My house is assessed at 150k and the last appraisal was 405K.

If you go into the suburbs where the properties are newer the assessments are a lot closer to the real value. Because there’s still enough land to build, the values haven’t shot up that much.

michaela

Tax Assessors Value Vs. Real Value - Posted by atlantarei

Posted by atlantarei on October 08, 2003 at 13:34:14:

I’ve been looking at public record comps. However, it appears the tax assessor’s appraisals are lower than what was paid for the house or sometime equal, when in most cases the sales prices have appreciated. Any thoughts or experienced advice?

Thanks.

Re: Tax Assessors Value Vs. Real Value - Posted by Randy

Posted by Randy on October 08, 2003 at 13:42:28:

Tax assessments have little or nothing to do with appraised market value. Disregard them except to determine how much real estate tax you pay once you own the property. A certified appraisal (and sometimes a BPO) is the only thing that matters.