Assessed value is often very different from the actual/sale value of a home because it refers to the value that the home is taxed on and is subject to all sorts of limits depending on where the home is and which laws it’s subject to. For example in some states assessed value can’t increase above a few percent a year unless the home is rebuilt.
Assessed value is often very different from the actual/sale value of a home because it refers to the value that the home is taxed on and is subject to all sorts of limits depending on where the home is and which laws it’s subject to. For example in some states assessed value can’t increase above a few percent a year unless the home is rebuilt.