Remember, market value is the price that a "ready, willing, and able buyer is willing to pay". In essence, YOU determine market value. Realtors, appraisers, and other professionals give their OPINION based on a number of factors including: comparable homes that have sold, comparable homes that have NOT sold, comparable homes that are currently on the market, market conditions, and more. You can get this informations from sites like this, municipal records, and Realtors.
Feel free to contact me for more information.
Mid Jersey Inspections
NJ Home Inspection Lic. #076900
In reality, assessment is a tax concept and is largely irrelevant for a buyer looking at homes. Assessed values are computed every 5-15 years, and then are adjusted each year by a ratio to arrive at current value. However, the ratios are applied town-wide, are out of date, are based on property inventory cards that are never correct, and are just generally totally unreliable. So as a buyer, I would totally forget about assessment, because it means nothing in relation to real value. One house assessed at $379,000 could sell for $600,000, and another house assessed at $350,000 could sell for $800,000. It happens all the time.