Assessed Value vs Market Value

What’s the difference between assessed value and market value?⁣

A home's assessed value:⁣

  • Is used to calculate property taxes⁣

  • Is determined by an assessor⁣

  • Homeowners prefer it to be low (lower assessed value = lower property taxes)⁣

A home's market value:⁣

  • Represents how much your home is worth currently on the market; i.e. what it would sell for today ⁣

  • Determined by home appraisers; used by lenders⁣

  • Homeowners prefer it to be high (higher market value = higher sell price)⁣

Want to see the market value of your home in March 2022? Shoot me a text, and I’ll be in touch.

Cindy Grenier: 204-330-2567