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.
Keller Williams Realty - Monmouth/Ocean
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 .....