Question Details

Kim, Home Buyer in Metairie, LA

What does status: assessor mean?

Asked by Kim, Metairie, LA Sat Oct 30, 2010

Explanation of status

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Answers

17
Not one realtor here was able to understand the question and answer it properly. No surprise!!
1 vote Thank Flag Link Thu May 21, 2015
Hi Angela,
You're right! No one understood the question including myself until you furnished the link.
Sorry ..I can't explain property 'status:assessor'.
Perhaps it's a the term /identification is only used in Trulia.

Best,
Chris Gubb
1 vote Thank Flag Link Fri Nov 12, 2010
, i came here because TRULIA i saw a property i have been following now has status assessor, according to TRULIA, their assessed value for 2015 was broken down between land value + improvements. the total amount they have is 8% of the asking price and very low for property & neighborhood. It is an astonishing $1,352,236 for a studio(really a 1000sf loft) in tribeca. a strange price, and a drop of 1.3mil from original. CC cover building maintenance based on units % of SF of
building.so this probably is for tax assessment.it is very confusing on the site.Maybe the taxes have hiked so it has been dropped back down to the 2013 price
Flag Fri May 6, 2016
I had this same question...I'm not sure anyone understood the original question. I had saved a property of interest and now the status is "Assessor" and is is off the market. Example is linked below:
1 vote Thank Flag Link Thu Nov 11, 2010
Hello Kim,
The assessor is the tax assessor from your town's city government that determines the value of your property for tax purposes. In most towns, you can visit the tax assessor's office to find out if they have all the correct information about your property such as: square footage, # of bedrooms, baths, acreage, etc.. I hope this is helpful.
Laura Feghali
Prudential CT Realty
203-536-4802
1 vote Thank Flag Link Sat Nov 6, 2010
Assessor is the county tax assessor. I typically see this term when reviewing listing or sale information on a particular home. The square footage and lot size represented in the information can be verified by the assessor who can hold the most reliable information of record. Hope that helps!

Diane Wheatley, Broker
diane@moveupproperties.com
1 vote Thank Flag Link Sun Oct 31, 2010
Tax assessors research the value of a property for tax purposes. They adjust the value of the property based on recent market trends or the recent sale price of the home. Based on the value assessed this determines property tax for a particular prop.
Web Reference: http://www.DavidNewHome.com
0 votes Thank Flag Link Fri Nov 19, 2010
I believe it is a reference to the fact the assessor has been requested as the home is now off the market it now shows off market.
I was trying to find another and did noting a day later it showed off market.

I Wish you well in your home pursuits
Mark C Home Inspector
0 votes Thank Flag Link Wed Nov 17, 2010
Assessor would be the Tax assessor who determines the assessed value of your property. Also an agent will use the square footage from the tax assessors website on state in the MLS that information was provided by assessor.
Hope this helps.
Regards,
Diane Fuchs
0 votes Thank Flag Link Tue Nov 16, 2010
Tax assessors is the one who assesses the property value of the property for the property tax purposes. Tax assessors can assess the tax downwards or upwards depending upon the sliding property values. Initially, it ties to the sale price of the property.
0 votes Thank Flag Link Fri Nov 12, 2010
I can only speak for Contra Costa County in California which bases your tax amount on it would be on Jan 1st.

This does not apply to sales, so if your value drops 10% in six months it will not be reduced by calling the assessor with comps suggesting a lower value, u would have to wait until the year rolls around.

I worked as an appraiser for a few years and strange as it may seem we look to the past for current values and realtors look to the future for their values. The assessor uses a similar formula which may or may be a
good way to do it
0 votes Thank Flag Link Thu Nov 11, 2010
In response to Simon doubting you can get your assessed value decresed:\
I have furnished 'comps' [other homes that compare to the one in question] to several clients who have successfully gotten their taxes reduced based on these comps and their purchase price.
Best,
Chris Gubb
0 votes Thank Flag Link Thu Nov 11, 2010
An assessor is one who estimates value of property for tax purposes. he or she is officer
in your local goverment who usually has run for the office every 2 or 4 years and good luck
trying to get them to changes your taxes when the value drops.....
0 votes Thank Flag Link Thu Nov 11, 2010
Hi Kim,
An assessor works for the town to determine the value of a particular home. In my are,a this assigned ASSSESSED VALUE is calculated by taking into consideration the lot size, a room count, home sq. footage, age of home, sale price of neighboring homes, updates the home has and whether the home is on a quiet or busy street. Once this VALUE has been determined, the local TAX RATE is then applied. [each town has a different tax rate] to reach the TOTAL TAX BILL per year.

Example: A $700,000 tax assessed valued home will be calculated by:
7000 x $1.79 [tax rate] = $12,530 [total property tax bill]

Hope this helps and best of luck,
Chris Gubb

On another note: these assessed values are not always the final word. They can be challeged IF you feel the value is not accurate. This becomes more complicated and requires further discussion. Let me know if you'd like more info.
0 votes Thank Flag Link Wed Nov 10, 2010
Hi Kim

I hope that your home search is going well.

Everyone else pretty much answered your question for you - an assessor works for the city or town to figure out how much the property is worth for tax purposes. Their data can include the parcel number, lot, block - all referring to location as well as dimensions and so on. The important thing to remember is that there is a difference between and ASSESSED value and an APPRAISED value. If you plan to finance your purchase then the assessed value is nice to know but it's not what your lender will use to value the property. An appraisal will be used for that and will be based on more current market data and details the assessor may not consider in their valuation.

Let me know if I cam be of more help!

Tom
0 votes Thank Flag Link Tue Nov 9, 2010
An assessor is one who estimates value of property for tax purposes.
0 votes Thank Flag Link Mon Nov 8, 2010
If you are looking at a listing it refers to the source of information. Infomation such as property taxes, square footage, lot size. Property details.
0 votes Thank Flag Link Mon Nov 8, 2010
Hi Kim,

I'm not sure what you're looking at however a real estate agent may list something such as the square footage of a home or dimensions of a lot and put assessor after it. If the information was verified from the assessor's information that is when they would use that.
0 votes Thank Flag Link Sat Oct 30, 2010
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