home value: DON’T MISUSE TAX ASSESSMENTS
- 07/16/17 09:28 AM
Some are convinced that market values for homes can be somehow predicted from government tax assessments, not to be confused with professional appraisals. No doubt some of the confusion stems from the fact that assessment and appraisal both begin with the letter "A." Indeed, the stated goal of most local tax assessors is to assess in relation to market value. Of course, an average relationship between tax assessments and contract prices of recently sold homes can be calculated easily. But the idea that a government employee sitting in an office with some records and a computer can predict the market value … (2 comments)
Some are convinced that market values for homes can be somehow predicted from government tax assessments, not to be confused with professional appraisals. No doubt some of the confusion stems from the fact that assessment and appraisal both begin with the letter "A." Indeed, the stated goal of most local tax assessors is to assess in relation to market value. Of course, an average relationship between tax assessments and contract prices of recently sold homes can be calculated easily. But the idea that a government employee sitting in an office with some records and a computer can predict the market value … (2 comments)
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