Listing Vs Tax Accessed Amount
HI everyone, This has puzzled me. Looking at the homes listed in the realty section and other sources, and comparing them to the County Tax Accessed amounts, they all fall way short. In other words they want more than the county says they are worth. Why?
How is it that you can say for instance I want 100,000 for this house when the county says its only worth 70,000?
And it seems as though all of them are like this.
[ Edited by bj2964 on Date 10/10/2003 ] 
[ Edited by bj2964 on Date 10/10/2003 ]
Well for one thing the county only assessess properties like every 4 years, depends on the county. Secondly you have your money hungry realtors trying to jack up home values so that they can get more on their commissions. Also the assessor doesn't do a walkthrough of every house so they don't know what kind of improvment have been made unless they have been filed with the court house.
hope this helps,
Scott
A couple of factors are in play here.
One is that the county appraises based on a wholesale approach. They don't go walking in the homes, so they miss variables in both directions.
Also, they typically appraise to a percentage of market value. Often this is statutory (say, 80% here in Tampa).
So the tax appraisals are both lower in precision, and also potentially artificially lowered by a defined factor, but there's a third element at work: time. The tax appraisals were typically done last year, or at the beginning of this year. They're behind a constantly-moving market.