County Appraisal Lower???

[cindilu1]

I'm a lurker but I was hoping you guys could help me.

Is there a problem if my county appraisal came back as 15% lower than the appraisal I just had done with my refinance in June? I know my property taxes will be lowered but are there implications if I try to sell my house or anything else I'm not thinking about? We have the opportunity to bring in a recent appraisal and get the amount adjusted but I'm not sure I should.

[ohgillian]

In many places, the tax value is not directly related to the assessed value and doesn't really impact sales prices. I would ask a realtor or ask around to see if that's typical for your area. I know it is here -- it's common for a tax value to be lower than an appraisal.

[allez]

Someone please correct me if I am wrong, but there is not really a strong relationship between the tax value and the bank's appraised value when it comes to buying/selling. We recently tried to purchase and the bank appraisal came in significantly under the tax value so the deal had to be called off.

[Deleted]

Sept 10, 2012 9:10:19 GMT -5 ohgillian said:

In many places, the tax value is not directly related to the assessed value and doesn't really impact sales prices. I would ask a realtor or ask around to see if that's typical for your area. I know it is here -- it's common for a tax value to be lower than an appraisal.

Yep. In my community it's normal for the taxable value to be about half of the market value.

[jewel]

No problem at all. Your sale value is driven by the market, not the tax assessment.

Enjoy the extra money! :-)

[Deleted]

The county tax assessment here is much different than an actual appraisal. I wouldn't worry.