Ask Bob Home Value What is the difference between assessed value and appraised value?
Back to Home Value

What is the difference between assessed value and appraised value?

Assessed value is determined by your local tax assessor for property tax purposes and often reflects a percentage of market value. Appraised value is determined by a licensed appraiser for a specific purpose like buying, selling, or refinancing. Appraised value is based on recent comparable sales and the home's condition. The two values can differ significantly.

Why It Matters

Confusing assessed value with market value can lead to overpricing or underpricing your home. They serve different purposes and are calculated differently.

Related Questions

What determines my home's market value? How do I know if my home value has changed? How do online home value estimators work? What home improvements increase property value? Do schools affect my home value?

Still Need Help?

Bob answers every question personally. Send your question directly to him.

Ask Bob Directly