How much stock do you put into the assessed value?

[Steven Booty]

I'm under contract on a duplex (my first property!) and it was recently assessed at $2K below what I offered (it's a short sale). 

How seriously should one take the assessed number? Does it typically reflect what it could sell for right now or what?

[Shanequa J.]

Assessed value is for taxing purposes. Sometimes I look at assessed value when I'm trying to decide to put a house on my list. It's a quick gauge. I offer based on comps though.