What is an Assessed Value is in Real Estate | Real Estate Vocabulary

What is an Assessed Value is in Real Estate; The assessed value of a home is typically the value placed on a property for the value of taxation. Some municipalities take the full market as the assessment value.
This means if you buy a home for 600k and the prior assessed value is 500k then your taxes will rise to meet that 600k assessed value and vice versa if it goes down.
Property taxes can be tricky so if you’re unsure contact your agent or tax assessor for more information.

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Видео What is an Assessed Value is in Real Estate | Real Estate Vocabulary канала Sigma Real Estate Studios