Tax Appraisal Vs. Asking Price

[rblessed1031]

My question is, the list price for a home here in Sowal is much higher than the RE Tax Appraisal for 2009. Is that a common thing here in FL? We have just started looking, and where we are from, there is generally a difference, by about 10%, but not $150K.

I am just curious.

 

[scooterbug44]

They REALLY vary greatly and lag behind the market, so I just use the assessed value as one of the many factors I use to determine my offer price.

Usually they are much lower than the asking price because the owner obviously doesn't want to pay any more taxes they have to.

 

[30ashopper]

My question is, the list price for a home here in Sowal is much higher than the RE Tax Appraisal for 2009. Is that a common thing here in FL? We have just started looking, and where we are from, there is generally a difference, by about 10%, but not $150K.

I am just curious.

In this market it's impossible to know. Comps are your best bet. Also the type of comp comes into play. FWIW, walton's appraised value is usually lower than salable price by about 10-20%. It's been that way for as long as I've lived here (~10 years or so).

 

[beachmouse]

I pulled up my tax record online for a home in the county to the west. It's noted on the tax record:

"Just (Market) Value is established by the Property Appraiser for ad valorem tax purposes. It does not represent anticipated selling price"

And their Just (Market) Value is a good $75K less than what similar homes list and sell for in my neck of the swamp.