Is Assessor's Office close to value?

[Worriedmom4]

Hi all

I logged on our assessor's office web site and looked up the evaluation of our home and was completely shocked. Has anyone else had their value listed at an outrageous amount at your local assessor's office? Got myself worried all over again.

[HHM]

Usually not.

Keep in mind what that number is used for, it is used to calculate the property tax you pay. As such, the higher the value, the better for the county. So, the county will usually be on the higher end, and yes, sometimes outrageously high. It really depends on what statutory and regulatory controls in place and what value model is used to determine the Assessed value.

But RARELY is assessed value an indicator of market value.

[AngelinaCatHub]

Here in FL, our assessed value is regulated by the history of similar houses that have been sold around our area. You might go to your online tax assessor site and put your parcel number in. This usually locates near properties in your area. At least it does in our County. As HHM stated, it is used to tax you. Probably if the house sells for much less, the taxes MAY be revalued. "Hub