10/16/2026
ποΈ Why Is Your Tax Assessed Value Different Than Market Value? ποΈ
Don't use your tax bill to price your home! π«π°
Here's the difference:
π Assessed value is set by a government agency or tax assessor to calculate property taxes. It's usually a percentage of market value, based on things like size, location, and age.
π‘ Market value is the price a buyer and seller actually agree on. It's driven by condition, location, local market conditions, and buyer demand.
Here's why the two can be so different:
β° Time: Assessed value is often based on last year's data, while market value can shift quickly with current conditions.
π Who decides: A tax assessor sets the assessed value. Market value is often determined by a professional appraiser who looks at your home's condition and unique features.
π Market conditions: Demand in your area can have a big impact on what buyers will pay right now.
π οΈ Improvements: Added a new kitchen or bathroom? Your market value may go up, but your assessed value may not change until the next assessment cycle.
β οΈ Bottom line: your assessed value isn't necessarily an accurate reflection of what your home is worth. If you're planning to sell or just curious, a Comparative Market Analysis (CMA) from a real estate agent or an appraisal is the way to go.
π Want a detailed look at your home's market value? Contact me for a FREE personalized CMA of your home. π² 423-315-2392
Ben Absher
Realty One Group Experts
π±: 423-315-2392
βοΈ: 423-541-0100
π» [email protected]
π±οΈhttps://benabsher.myrealtyonegroup.com/