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The assessed value and appraised value are both used in real estate, but they serve different purposes: In short, assessed value impacts taxes, and appraised value reflects market value. Here’s a table summarizing the differences between assessed value and appraised value: Feature Assessed Value Appraised Value Purpose Determines property taxes Determines the market value of … Read more
The assessed value of a property is the value assigned to it by a public tax assessor for the purpose of determining property taxes. It’s a way for local governments to calculate how much you owe in taxes based on the worth of your property. Here’s how it works: For example:If a property has a … Read more
The assessed value and appraisal value are different metrics used for distinct purposes in real estate, and which one is higher depends on the property and location. Here’s a breakdown of each: Assessed Value Appraisal Value Which is Higher? In most cases, the appraisal value is higher because it reflects the current market value of … Read more
Commercial appraisal is a specialized field within real estate that focuses on determining the market value of commercial properties. This comprehensive guide delves into the significance of commercial appraisal, the unique challenges it poses, key approaches used in valuation, and the role of appraisers in the commercial real estate sector. 1. Understanding Commercial Appraisal Commercial … Read more