Assessed Value vs Market Value

What’s the difference between assessed value and market value?⁣

A home's assessed value:⁣
Is used to calculate property taxes⁣
Is determined by an assessor⁣
Homeowners prefer it to be low (lower assessed value = lower property taxes)⁣

A home's market value:⁣
Represents how much your home is worth currently on the market; i.e. what it would sell for today⁣
Determined by home appraisers; used by lenders⁣
Homeowners prefer it to be high (higher market value = higher sell price)⁣

Want to see the market value of your home in March 2022? Send me a DM, and I’ll be in touch.

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