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Question on Home Value?????

May 4th, 2007 at 12:17 pm

What percentage do you use when figuring home value from the tax roll figure?

Or how do you figure out your home's value - without doing a new appraisal?

Thanks in advance for all your answers!!!

YOUCANDOIT

6 Responses to “Question on Home Value?????”

  1. Ima saver Says:

    Your house is usually worth more than the tax appraised amount. Our is appraised at about $450,000, so I use $500,000 in my net worth figure. Actually, I think I could get closer to $700,000 and would not take less than $600,000.

  2. PauletteGoddard Says:

    I don't use a percentage. I use the difference between what I paid for my house + land and the County assessment. So if I paid $75,000 above the assessment at the time of purchase--for example $200,000, I look at this year's assessment and add $75,000 to get the market value of my house.

  3. Fern Says:

    Market value and assessed value are 2 different things. For market value, you can go to an online appraisal service (free) like zillow.com tho i don't think it's nearly as accurate as inviting a local realtor to your home.

  4. Carolina Bound Says:

    It depends on where you live. Go to www.pulawski.net and click into your state. Then find your county on the list. You should see a multiplier to use on your assessed value. In my area, the multiplier is "1," because assessed value and market value are the same. If the multiplier is 3, and your assessment is $100,000, your market value is $300,000.

  5. scfr Says:

    It would depend on why you want to get a value on your house.

    If you're thinking of selling, by all means have a few realtors in to do some appraisals.

    If you want to make sure you have enough homeowner's insurance, you can call your insurance company and they can walk you through a "replacement construction cost" calculation.

    If it's for calculating your net worth, I'd start with what you paid for it originally, then adjust annually at the rate of inflation (since historically house values have tended to keep pace with inflation), and then deduct 8-10% for what it will cost you when you actually do sell (realtor's commissions, sales taxes, closing costs, etc, etc). The only exception to this formula would be if you live in a real estate market that has really boomed or busted; then you might have to spend some time researching your market to see what comparable homes have sold for.

  6. YOUCANDOIT Says:

    Well, there's so many different answers here. Zillow would be good except I don't think they are accurate.
    We've expanded our home and also added a pool and this isn't on there.
    I looked at an appraisal from a refinance a few years back and than pulled the tax roll to see what the percentage was. The market value is 15% higher than the assessed value(taxroll).

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