Good Morning Halliday,

I have to echo Christopher's comments, the assessed value has nothing at all to do with market value. The city assesses the basic measurements of the house and doesn't take into account many features that a house may or may not have, such as granite counters, which may add market value, but doesn't get factored into the assessment for taxation purposes. Same thing the other way just because a house has 4 bedrooms and 2 full baths, the assessment doesn't take into account that the house is in need of a complete rehab on the interior.

Hope that helps answer your question. If you feel that your assessment is unfair, you can file an appeal with the Tax Assessor. It can be a lengthy process, but could be worth it if you feel you are paying unfair taxes.

Happy Hunting,
Chris

Hello,

The assessed value that is determined by the town is for distribution of taxes only and does not correlate with a sale/purchase price of a home. It is a way that the down "fairly" distributes it's tax burden. Also, if it were to go down the next assessment, that does not mean your taxes will go down. The city still needs the money to run the city. They adjust the tax rate per $1000 to make up for it.

They get you coming and going...

Chris Rotondo
Watermark Realty
401-486-4472