Dr. Andre, Home Buyer in Atlanta, GA

Is the county tax assessor value on a house usually higher or lower than the market value of that property?

Asked by Dr. Andre, Atlanta, GA Wed Jan 7, 2009

Help the community by answering this question:


It's been a while since this was posted and we've seen values continue to drop. As noted earlier, there's no corrolation between market and assessed value. Assessed values were moving lower to reflect foreclosures and over drop in the market (different than applying individual market value) but lately the mil rates have been bumped up - just playing with the math,
0 votes Thank Flag Link Fri Sep 10, 2010
It often depends on the property. But keep in mind that the tax assessment does not take in account foreclosures in the property's market area.

Best of luck to you.
Web Reference: http://www.DesariJabbar.com
0 votes Thank Flag Link Mon Aug 30, 2010
County tax assessments don't mean a whole lot comparing to market value. Several years ago, a program was put into place in Dekalb county where you could freeze your tax assessment. Hank is right, it really doesn't seem to have much to do with market value. I have seen homes listed way above and way below assessed value.

Here's the info from Dekalb County on freezing tax assessments:

Jen Bowman, Broker Associate, Realtor
Success Realty
Web Reference: http://www.JenBowman.com
0 votes Thank Flag Link Wed Jan 28, 2009
Market value is what a ready, willing and able buyer is willing to pay for your home. Assessed value is assigned by the assessor based upon a number of things - some review of market data but after initial assessment mainly through annual increases or increases when improved. Appraised value is estimated market value at a specific time based upon comparable home sales data available at that time.

Assessd values are going up as the tax base shrinks due to foreclosures and vacancies - they are essentially jamming the folks paying taxes to make up shortfalls....

In this market, it's common for assessed value to be higher than market value. Keep in mind as well that many times ratios are used by assessors - 40% of market, 50%....and a factor is applied to determine taxes.
hope this helps

0 votes Thank Flag Link Fri Jan 9, 2009
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