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amlnlover100, Home Owner in Salt Lake City, UT

What's the relationship between tax assessment value, mortgage assessment value and the market value (selling price) of houses in the city of

Asked by amlnlover100, Salt Lake City, UT Sat Apr 27, 2013

Logan? (sorry if I'm not using the proper terms)

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They should be close; but they are not tied together:
The ASSESSED value is determined by the County Assessor, and is determined by their formula and the County needs.

The MORTGAGE, (APPRAISAL) value is determined by just that, an APPRAISAL. This can be recent, or not. This can be based on the amount of the LOAN, just covering the Banks deriere.

The MARKET VALUE is really only determined when the property sells; that is, a ready and willing buyer steps up and puts their money where their mouth is. Truly, the only VALUE that is valid.
0 votes Thank Flag Link Sat Apr 27, 2013
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