Assessed Value – David A Reecher
The value used by the governing authority (i.e. either the local government or the condominium association) by which to levy a tax or fee on the property owner.
Note: As an agent, I look at the assessed value when I’m determining the value of a house, but that’s as far as it goes. The only way to get the accurate value of a property is to compare it to other like houses which have recently sold in the same development/area. Assessed value does not determine the current value of a property.
David A Reecher