At closing my lender appraised the home I purchased at approximately $150,000 more than what the county appraised the home at 15 days after closing

Asked by Jimjan2007, Winchester, VA Mon Oct 1, 2012

Help the community by answering this question:

+ web reference
Web reference:

Answers

4
James Gordon…, Agent, Hamilton, OH
Tue Oct 2, 2012
Praise the lord. If the county would has given you a higher tax assesment by 100.000 what they currently have you would not be able to fight it and have to pay higher property taxes
1 vote
Annette Law…, Agent, Palm Harbor, FL
Tue Oct 2, 2012
What did Zillow, Trulia or the Bank of America website produce as a value?

There are just way too many numbers being generated with words sounding like 'value" around them.
Tax authorities in FL generate a 'Just Market Value" number that citizens interpret literally. Should they ever click the link that defines this value, they would realize, that is not the number upon which to condition a purchase offer. There is a published bias objective of the Just Market Value. The monthly analysis of area sales show a variability from 0.9 to 1.7 of the sold price. That's about as accurate of the random number generator Zillow uses.

In agreement with James, it's time to do the 'HAPPY DANCE!"
0 votes
James Gordon…, Agent, Hamilton, OH
Tue Oct 2, 2012
Suzanne it does, just hit the thumbs up button to the upper left of my answer.
0 votes
Suzanne MacD…, Agent, Succasunna, NJ
Tue Oct 2, 2012
LOL, James I still wish this site had a 'like' button! Please understand that an appraisal is not the same as an assessment. Similar but different. Both are nothing more than an opinion of value and they are sometimes based on very different criteria. For example, did the county tax assessor do an internal inspection of your new home? James is correct, be thankful that your property taxes didn't go through the roof. The real estate market determines the value of your home, not the appraiser, not the tax assessor, and not even a realtor.
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Cross Junction Zip Codes

Email me when…

Learn more