Tax assessment
The county's official valuation of the property for tax purposes. Doesn't always match market value. Owners can usually appeal if they think it's too high.
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Why a seller cares
The assessment is the county's valuation for taxes, and it can be appealed if it is too high. It has almost nothing to do with your sale price, and buyers sometimes read it as if it did.
Part 2 of 4
A simple example
Your assessment is $310,000 and the home is worth about $290,000. You appeal, and the county lowers it, which lowers the bill the buyer inherits.
| The situation | What tends to follow |
|---|---|
| Assessment above market value | An appeal, and a lower bill for you and the buyer |
| Assessment well below market | A lower bill now, and in some states a reset when it sells |
| A buyer treating the assessment as the value | A conversation about what the number is for |
The assessment is a tax figure with an appeal process. It is not the appraisal.
Part 3 of 4
What people get wrong
That a high assessment supports a high price. Appraisers ignore it, and so do buyers' agents.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
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