Question Details

Leslie Coburn, Home Buyer in Westfield, MA

general question

Asked by Leslie Coburn, Westfield, MA Tue Aug 7, 2007

I was looking on your wed site and wanted to know what is the difference between the assessed price and the list price

Help the community by answering this question:


Although I am not a tax expert; I will say that the assessed (value) price is usually used in property tax terms; and is a fraction of the last selling price and/or assessed value based on the district of residence.

The list price can be unrelated to the assessed value; depending on how old the home is and/or the local tax valuation methods.

List price is what the seller sets and expects to receive upon sale of the said property - and what the market will bear in terms of recently sold homes and prices of current homes on the market.

Therefore the difference is in what the homes tax rate will be vs. what the home should sell for in its market. Sometimes it can be the same - but most likely not.
1 vote Thank Flag Link Tue Aug 7, 2007
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