Home Selling in Freehold>Question Details

Kmh4nym, Home Buyer in Collegeville, PA

I'm getting my house accessed what do they look for?? How long does it take? Do they do inside and outside of the home??

Asked by Kmh4nym, Collegeville, PA Tue Mar 5, 2013

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The reassessment program is designed to provide uniformity and equality in the distribution of the property tax burden based on appraisals at market value. It will reflect the changes in market value which occurred in the town since the last revaluation. State law requires that all real estate be assessed at current market value which is defined as the price a property would sell for in the open market when the buyer and seller are both acting voluntarily.

During the reassessment process, an interior and exterior inspection will be conducted of a sampling of properties. The data collected from these inspections, as well the inspections conducted and data collected since the revaluation will be analyzed. Market transactions will be studied, verified and used to compare your property. The final process is to conclude the current market value for each property. To comply with New Jersey law, all town properties will be assessed at market value .

Hope this helps.

If you have any other questions, feel free to contact me.

John Meeker
Keller Williams Realty - Monmouth/Ocean
732-910-2593
JMeeker@kw.com
0 votes Thank Flag Link Wed Mar 6, 2013
My town just went through a reassessment. Some of my neighbors refused to let the assessor inside. I opted to allow them to come in because I wanted to make sure I was going to be taxed on facts. A hired individual came inside, looked around, made some notes and then measured the exterior. He took some pictures. Took about 5-7 minutes.
0 votes Thank Flag Link Tue Mar 5, 2013
assessed .....or appraised?

assessed might be town wide - where all the homes are being evaluated and reassessed for tax purposes......or.............is an appraiser coming in either because you are refinancing or selling your home, so they need to attach a fair market value to your home?

In both cases, they will look inside and outside................how detailed they are may depend on whether it is a town assessment or an appraisal...........if it's an fha appraisal, it may be even more detailed.......

when my home was assessed as part of a town reassessment, the young woman walked around quickly with a clipboard and just made a checklist of what she saw - she was in and out in under 15 min...she was not a trained appraiser - more like an order taker

an appraiser will take longer - approx. 30 min or more , depending on the size of the home....will walk around, draw a floorplan of the rooms........make note of upgrades or obvious flaws.....take photos....measurement from the exterior.........the home is inspected inside and out......but this will not be anywhere as intense or detailed as the home inspection!

an fha appraisal will be more detailed .....
0 votes Thank Flag Link Tue Mar 5, 2013
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