The assessed values are only used for assessing property taxes.
If I can be of further assistance just call me at 321-960-3577 or e-mail me at email@example.com.
Our 2010 Tax Assessments went down considerably in Tampa Bay so if you're comparing properties to the 2010 assessment value it probably impossible to buy a property at or below Assessed Value. Here it generally runs about 80% of "true" market value. So, a $100k property might be assessed for $80k. Sometimes the property appraiser's office is way off either too high or too low so you can't rely on their value as being meaningful to a specific property. It will give you a "ballpark" idea, kinda like the "ballpark" price/sq ft value that some less experienced buyers use to give value.
The link included here is a report I created for you on all the ACTIVE foreclosures in the Mel Beach and Indialantic areas.
Of the 14 sales in Melbourne Beach between October 01st, 2010 and today 4 sales were below the assessed value....the rest were above.
As per previous replies, the assessed value is for tax purposes and does not indicate market value of the property.
Please let me know if you need further information....I will be very happy to help.
Phil Rotondo, Realtor
ERA Showcase Properties and Investments
Melbourne Beach, Fl.
The valuation attributed by the County is for property tax purposes and should not be construed as the same as market value. Depending on the type of structure (single family, townhome or condominium) and the location, the percentage of county valuation that properties sell for can vary widely. I just completed an evaluation of the neighborhood metrics for a home we made an offer on and most recent sales in that development sold for between 115% and 146% of county valuation with an average of 135%.
I hope this information helps answer your question but if I can offer anything additional please feel free to contact me at your convenience.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty