List Price vs. Assessed Valuation

5 Replies

How much weight does the tax assessor's valuation have when negotiating a deal?

I'm interested in a single family home in my area listed for $105,000.  I checked with the assessor's website and the property has a "2016 fair market value" of $63,900.

Absolutely none.  Tax assessments are set for the purpose of collecting taxes.  At best, they lag several years behind market values.  Sometimes they have little relationship at all to actual market values.

@Christopher Davenport none at all. Those are two different animals - market - assessors valuation for taxes.

I recently talked to an assessors office just to get the proposed estimate that has yet to be finalized. Likely it will be the numbers they gave but it's just not "official" yet.

Originally posted by @Dan Mackin :

For negotiating it is useless. If it is less than the actual value then that is great for you as an owner since the taxes are lower than they could be. 

Depend on your local, they may set it higher based on your sale price, so check before you count on the lower taxes.