james.hietpas, Other/Just Looking in Little Chute, WI

over the past 5 years, has the sale price been higher or lower than the estimated fair market value as listed on property taxes

Asked by james.hietpas, Little Chute, WI Tue Aug 21, 2012

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First of all, the value as listed on property taxes is NOT always the fair market value. That value is used when calculating your property tax payment. As a matter of fact that value was reflected the fair market value of your home maybe 5 or 6 years ago.

The local county will review and re-evaluate the home tax value maybe every now and then (might as long as 5 to 6 years) just to make sure the property tax they charged is on the fair market side. This value might reflect some degree of the home value if the local real estate market in your area is relatively stable in the past few years. But if you need a detailed analysis report about the current fair market value of your home you need always contact your realtor to run a CMA (comparative market analysis) report.
0 votes Thank Flag Link Tue Aug 21, 2012
Sales price is based on many things. Updates, how clean the home is, how it is staged, surrounding properties, the mood set by the seller and the how the wind is blowing when the buyer goes through. The same hom,e built by the same builder, painted the same colors can sell at different prices based on many things!

Fair Market Value for Tax purposes is based on mechanical functions and as stated below can be different from what percieved value the home has to the buyer. If you want to get top value for your home you must listen to your Realtor and the professionals that surround them. Choose an agent based on honest feedback and advise.

If you are buying a home then utilize your Realtor as a "Buyers Agent" and allow them to assist you with the homes value.
0 votes Thank Flag Link Tue Aug 21, 2012
I agree with the Schulz's below. It varies from county to county and town to town but certainly even from home to home. The tax assessor's opinion isn't something to be relied on. If you want an idea of what your yo
E will sell for at a given point in time, you really need to look at comparable home sales. If you would like help, I'm happy to help! I grew up in Little Chute and know the area very well. You can call me at 920-740-3599 if you'd like. Either way, a Realtor is your best bet for a price opinion instead of the tax assessor :)
Web Reference: http://www.jaccikonkle.com
0 votes Thank Flag Link Tue Aug 21, 2012
Every house varies as to the accuracy of the assessors fair market value. I've seen houses on the same street sell for $30,000 above assessment, and $30,000 below assessment. I don't think anyone could make a general statement saying higher or lower and be accurate. Assessments change annually, and the real estate market is continuously variable. For more info on this topic, see our blog linked below.
0 votes Thank Flag Link Tue Aug 21, 2012
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