Home Buying in Davenport>Question Details

Crewhouse, Home Buyer in Disney, OK

Is there any link with assessed value for proerty tax and actual value its worth?

Asked by Crewhouse, Disney, OK Fri May 20, 2011

Looking at lots of property listed around the $190k mark, but assessed at around $140k.

Help the community by answering this question:


First question, sure no problem, here are the links for the Counties in the Disney area:

Polk: http://www.polkpa.org/CamaDisplay.aspx
Osceola: http://www.property-appraiser.org/
Orange: http://www.ocpafl.org/

Second question, sorry not such thing. The actual value that a property is worth is what someone else will pay for it. The only way to find out is at the the sale. EVERYTHING esle is just an estimate of value and as you are no doubt finding out, some sources estimate better than others.

I am not in agreement with my colleagues here on the difference between a properties tax assessed value and it's real market value. In the current market, I'd say the tax appraisers in these three counties are trying to hit 85 to 90% of market value when setting the tax value. I also see a lot of resistance to them lowering tax values further than they already have.

Good luck,
Mark LeMenager
Find your next house with the click of a mouse.
Search the MLS without obligation or registration from my website.
2 votes Thank Flag Link Thu May 26, 2011
the short answere is no, there is little or no link. Before you run around in circles trying to make sense of the market and the homebuying process here, it may be a good idea for you to link up with a local Broker that has done 100s of deals in the area. I am available to you at no cost. Yes no cost. Please consider using me to help you with your understanding.
0 votes Thank Flag Link Sun May 29, 2011

That makes perfect sense! Listed for $190K with an assessed value of $140K... Usually, the assessed value of a property is about 20-30% lower than market value. There are certain neighborhoods, not many- where market value is double that of assessed value and many variations of that rule of thumb.

Actual value is something that is subjective. Your opinion of actual value- is what you believe the property is worth. That belief may be far different from other potential buyers and also far different than that of a lender or seller.

Mott Marvin Kornicki, Broker
Waterway Realty of Florida

786-229-7999 Cell-Text
info@waterwaysrealty.com ≈ E-Mail

8811 Harding Avenue | Surfside, Florida 33154

0 votes Thank Flag Link Fri May 20, 2011
The assessed value as published by Zillow will be an algorithm of home sells in the area over a few months, which will not take into consideration what type of sell it was or the conditions of the home. If you look at the assessed value from the county records they will likely indicate 80% of market value in something sold several years ago, but on newer sells it will take a year to readjust to the new sale price, at which point the taxable value drops to match the new lower price.

Bottom line, homes that have not sold recently take longer to adjust to new community prices. If there are any specific properties you want info about, just click on my photo and contact me. I have been in the Four Corners area for about 20 years.

Tony Vega
Charles Rutenberg Realty

0 votes Thank Flag Link Fri May 20, 2011
In Austin, only somewhat. The appraisal district does more of a blanket appraisal of value and the tax appraisal office usually has a slighly lower value listed on the property then its actual value. The don't actually walk in each home (or in this case on the piece of land). A drive-by of the land is the most that has probably been done. I would suggest contacting a local real estate agent that specializes in land or lots in your area and ask them for comparative sales and then make your offer based on actual comparitive lots that have sold. You could even personally go to the other lots that have sold and compare them in person and then base your offer on that.
0 votes Thank Flag Link Fri May 20, 2011
To find teh assessed value, go to teh town or cities web site, click on assessed values, if they post them online you should be able to look them up by address or owners name, if they do not post them, you will have to go to the cityhall and look at the tax card.

For what it is worth today, there is no site that can predict it, nothing beats a true market analysis or assessment of what it is worth in todays market by an experienced agent
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri May 20, 2011
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