In your opinion, does the tax assessment value of a property provide a good starting point to begin to determine what the market value should be. Do you find that in most neighborhoods the market value of properties will generally be a certain percentage over what the tax assessment is?
I realize that there are many other factors to consider, but generally speaking what are your thoughts.
From what I’ve seen it varies. I wouldn’t go by the assessed value * a percentage, but ever bit of information you can get about a home can be useful.
I agree, I would never base it off just the TA * %. More of a first glance… could it be worth pursuing kinda of a thing.
this varies widely by taxing authority. some municipalities assess at 100% of fmv while others assess at some discount to this. you must understand the rules in your community and still take the numbers with a grain of salt.
Generally speaking - in terms of value to you as an investor, noe word comes to mind:
USELESS
Keith
In my county of Prince William, VA, the ARVs are around 65% of the assessed value. I don’t use that figure for comps. The tax assessor’s database also has a seasrchable database of homes that sold. I do use this and compare it to other sources.