Tax value vs. Market Value

The other night I had a conversation with a potential client who might need to sell the house. I asked him if he has been protested his property tax  value to avoid paying more property tax.

He told me something to the extend of this: “ No I would never want to protest my property tax value. I want it to be as high as it would be so that when I sell my house, I can sell it for top dollars”

And I am right there to correct it! I was more than happy to tell him that the tax appraisal value has no thing to do with the market value of your house! It can be served as a reference point when buying a house to figure out the tax payment, But a tax appraisal value has never been, and never will be an accurate estimate of the Market Value of your house.

A good Realtor will be able to provide a BPO (Broker Price Opinion) as a complementary service to home owners.

If you really need to figure out exact value of your property. A Full appraisal will need to be ordered.

If I can put every word above into a picture in a funny way, it will look like this

house

I hope this message finds you well. Don’t forget to protest your property tax value!

Be Great!

Huy