Hi,
Does anyone know anything about county appraisals? are they accurate? and what criteria are they done on? for example is the actual property valued or is it just a general valuation of properties of a certain size in a certain area?
Thanks
Hi,
Does anyone know anything about county appraisals? are they accurate? and what criteria are they done on? for example is the actual property valued or is it just a general valuation of properties of a certain size in a certain area?
Thanks
<<Does anyone know anything about county appraisals? >>
Yes (but we call it a “parish” hereabouts)
<<are they accurate? >>
For their purposes – yes (enough to squeeze taxes out of the citizenry…for real estate value purposes/reality – no
<<and what criteria are they done on? for example is the actual property valued or is it just a general valuation of properties of a certain size in a certain area?>>
SWAG
County appraisals are done to create a tax base. They are often done every 5 years or so…they aren’t usually very accurate even when new. What they usually do is to try to set them such that they don’t get a lot of rebuttals (rebuttals cost $$$ to defend or amend), leave them alone for several years, and adjust the “millage rate” to collect the taxes necessary to run the government entity.
Keith
Hi Keith,
Thanks so much for your reply.
I am new in REI and looking to do a rehab. A realtor that i work with sent me a property to look at which was going for $165,000 and he said that the county/parish appraisal was $209,000. Comps in the area seem to go for around $215,000 to $220,000.
Are you saying that the actual value is probably higher than the county/parish value? and would you happen to know a realistic % of how much higher?
Use the CMA that your Realtor should provide you…it willbe way more accurate than the County assessment number. Of course, an appraisal from a licensed appraiser is (usually) the most definitive.
Keith