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.
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.
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.