Asked by Home Shopper, Dietrich, ID • Fri Oct 23, 2009
We are putting an offer on a house in Lincoln County. Unsure of the actual value of the house, we checked with the county tax records to get an estimation. They have the market value for the 5 last years being $168,000. For 2009, the market value is assessed at $218,000. Our offer is $250,000 which is $50,000 less than their original asking price. I realize that a tax assessment is typically lower than the appraised value, but is it typical to be that much lower? We want to protect our investment in case we have to resell.
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