12/08/2022
There is always some confusion that arises around the difference between a property's "Assessed Value" VS "Appraised Value". A property's Assessed Value is determined by using a 10,000 ft view - looking at similar properties that are believed to have comparable finishes. It is used for property tax purposed and does not typically take current market conditions into consideration. A property's Appraised Value is a very detailed assessment of the house, neighborhood and current market conditions. It is completed by a licensed appraiser. by
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