I 've been researching property at the county tax office and have found that thier records differ from whats on the market. For example. I have a 2br 1 1/2 bath house that was appraised this year for 72.5K. The county tax office has a “Fair Market Value” of 55k and is assesed for taxes at 42k. I found a duplex that is listed with a Fair Market value of 88.6K and is on the market for 139.9K.
Does anybody know why the tax office price is so different from the appraisers?
When brokers look at the market value of a house, Do they look at the Appraised value or what the county tax office has listed as a market value?
A confused Ron R.
You can just about forget the Assessor’s Office’s appraisal having any reflection whatsoever of reality. Most of them have no real appraisal data for their number other than neighborhood and square footage (oh, yeah and how much money the Parish needs to operate on this year!)…
I don’t even bother with what the Parish appraisal on a property is. What matters is what the certified appraiser tells me the appraisal is. Now, if the Parish appraisal is a lot higher than the real appraisal, we’re gonna have words…
The $72.5K appraisal in this example is the most accurate. If you’re going to purchase it with a loan, a new appraisal eill be ordered by the lender anyway.
Keith