Jason Gelios Michigan REALTOR®
  • HOME
  • The AskJasonGelios Show
  • FOR SELLERS
    • DIVORCE
    • SELLING TIPS
    • SELLING BY OWNER
  • FOR BUYERS
    • HOME BUYING TIPS
    • GET APPROVED
  • PRESS
  • JASON'S BLOG
  • Jason's Real Estate Book
  • Connect With Jason Gelios
  • TESTIMONIALS
  • PODCAST: AskJasonGelios Show
  • 5 things I wish I knew...

Difference between assessed value and appraised value

7/30/2019

0 Comments

 
5 minute read by Jason Gelios REALTOR®
Picture
Many people wonder what the difference is between the assessed value and the appraised value of a home. 

The assessed value is just an estimate by the city/county to determine the homes tax amount. They don't look into any other factors like an appraiser would. The assessed value can only increase by a certain percentage per year. An appraiser will look at comps, updates etc. Market value of a home can increase higher than assessed value. Oftentimes when a new owner closes on the home the tax amount will be higher than what the previous owner was paying. 


An appraisal is a more accurate value of a property. Keep in mind though it is only a snapshot in time and can change due to other homes being sold and numbers adjusting. In some cases a home owner could use an appraisal to potentially lower there taxes if the appraised value is less than what the property is being assessed for by the city/township.

One other tip would be to make sure all information about your property is accurate with the city or township. One mistake by them could cost you more in taxes per year.   
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.


    Picture

    Jason Gelios

    Jason Gelios is a  Husband and Father. After that, a Top Producing REALTOR®, Author of the book Think like a REALTOR®, Creator of The AskJasonGelios Real Estate Show and an Expert Media contributor.

    Dedicated to providing real estate education to home owners, buyers and sellers, Jason provides content that is practical and real world based.

    Archives

    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    May 2020
    April 2020
    March 2020
    February 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    April 2015

    Categories

    All

    RSS Feed

About Jason Gelios
For Buyers
For Sellers
Think Like a REALTOR® Real Estate book
Our Services
AskJasonGelios Real Estate Show
Jason Gelios' Real Estate Blog​

In the press

Contact Jason Gelios
Copyright    All Rights Reserved    Reach Jason Gelios Direct at 586-419-2231    jasongelios@itsallabouttherealestate.com
Photos used under Creative Commons from wuestenigel, MarkMoz12, Spencer Means, Mrs Airwolfhound, r.nial.bradshaw, MarkMoz12
  • HOME
  • The AskJasonGelios Show
  • FOR SELLERS
    • DIVORCE
    • SELLING TIPS
    • SELLING BY OWNER
  • FOR BUYERS
    • HOME BUYING TIPS
    • GET APPROVED
  • PRESS
  • JASON'S BLOG
  • Jason's Real Estate Book
  • Connect With Jason Gelios
  • TESTIMONIALS
  • PODCAST: AskJasonGelios Show
  • 5 things I wish I knew...