Is there a reason your home’s assessed value differs compared to the market value?
Here are a few reasons your home's assessed value might differ from the market value. The most common reason is that the assessed value is based on the property's value as it was at a specific point in time, while market values can change on a day-to-day basis. Additionally, the assessed value might not consider recent improvements or renovations that have been made to the property. Finally, each municipality has its assessment methodology, resulting in different values being assigned to similar properties.