Hey, Gang
What does it mean when someone lists their property as:
ex. estimated value:65k
value source: Tax value???
Thanks.
Hey, Gang
What does it mean when someone lists their property as:
ex. estimated value:65k
value source: Tax value???
Thanks.
Usually this means that is what the county recorders office, list’s the
tax(able) value as. It is not a true indication of home value, just a value for tax purposes.
Thanks, Mdhaas.
I find that there are six different values which people put on property:
Wholesale Value - The value we investors put on a property. It is usually the lowest value. Hopefully tied to what we can make on the property.
Retail Value - The value a homeowner/realtor puts on a property. It is usually the highest value. I see this as a home is tied to the homeowner’s ego. The higher the value, the better they feel about themselves.
Property Tax Value - The value the tax assessor puts on the property for the purpose of property taxes. It may be higher or lower than the retail value.
Appraised Value - The value an appraiser puts on a property. It is usually pretty close to the retail value (or what the person hiring the appraiser thinks it should be).
Loan Value - value banks put on a property. It is usually a percentage of the appraised value.
Replacement Value - The value insurance companies put on a property. They usually take the value of the land, add in improvements and subtract out depreciation.
Hope this helps,
Tg