Home Selling in 11023>Question Details

Alex, Home Buyer in Sandy Springs, GA

Real Estate Tax Value vs. Price

Asked by Alex, Sandy Springs, GA Tue Nov 23, 2010

What is the relationship between the "fair market value" of my home for tax purposes (as stated on mynassauproperty.com and the letter I received from the taxing authorities) and the price I can expect to receive in a sale? Can you generally expect to sell for more than the tax value? Less? Or is the tax value pretty much what I can expect to get? thanks

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I also own a home in Nassau County. You can pretty much ignore that number on that website, it is a drive-by estimate at best--assuming some taxing official actually did drive by! Condition and most amenities are not evaluated at all that way.

Anna is right, you need data on recent sales, properties in contract, and to a lesser extent current listing data to decide upon a list price for your home. I would add the only number that matters is the one you get from a ready, willing and able buyer.

Karla Harby, VP
Rutenberg Realty
kharby@crrnyc.com
0 votes Thank Flag Link Fri Nov 26, 2010
What is your agent advising......tax assessments have no bearing on market price--in order to determine value, one needs to be aware of comps--recently sold similar properties in the immediate area, after reviewing the data a determination as to a fair list price can be made; if you don't have an agent and need additional assistance, feel free to contact me directly.
0 votes Thank Flag Link Tue Nov 23, 2010
Just to clarify ... I am selling in Great Neck and relocating to the Atlanta area.
0 votes Thank Flag Link Tue Nov 23, 2010
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