Assessed Tax Value vs. Sales Price

Real Estate Agent with Sequim & Port Angeles Real Estate

How does the assessed tax value and the sales price of homes compare compare?  This is a question I get from clients moving to my local market, and because it’s different around the country, clients ask me if the county assessed tax value of the home they might buy is the same as fair market value or the price at which homes actually sell.  In other words, would an independent bank appraisal be the same as the County tax assessment?  If you are going to make an offer on a home (or write an offer for a client), wouldn’t you like to know if the assessed tax value is a good indicator of the true FMV?  Clients are willing to pay a reasonable price, but they don’t want to over pay for a home in this market.

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Chuck Marunde

Sequim Real Estate Broker
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