Does anyone use the tax assessor assessment to estimate the ARV of a property? If so how do you do it? I'm finding in my area its safe to say that properties are selling around 3-4 times the assessment value.
In Pennsylvania, at least the area in which I am in is just outside of Philadelphia , the assessed value means absolutely nothing in relation to the true value of the property. I actually want a lower number since that is what determines my taxes.
Go with simple comps since that will be the most accurate to the true value.
Tax assessor have my primary residence at $203k but the actual value is close to $300k So That's way off. You have to dig a little deeper for the arv then using county values, If you have a relationship with a local agent they should be able to pull comps for you.
@Justin Westmoreland No. Absolutely not. It’s worse than a Zestimate. And I wouldn’t use a Zestimate.
I won’t be using that then, lol! Thanks everyone!