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Assessments And Market Value
Question: Is an assessment useful in determining market value?
Answer: Probably not. Assessments in many areas are only changed every two or three years, and thus may not be current. As well, assessments may be capped by state or local regulation to a given percentage increase which does not reflect market changes. Lastly, assessments may not reflect full values. For instance, there may be a special reduction for senior citizens.
Written by Peter G. Miller.
© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.
Copyright © 2012 Realty Times. All Rights Reserved.
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