The assessed value of a home, determined by the tax assessor, is the basis for property taxes. If you know the assessed value of a home, you can then determine the taxes to be paid on it. Contact the assessor's office of the city or county in which the home is located for the total tax rate. For example, a tax rate of ten mills on a home assessed at one hundred thousand dollars would be one thousand dollars. Be aware that not all states assess homes at their full market value.
Some states assess on only a portion of the home's value.
The appraised value is an estimate of the property's market value made by a trained appraiser. A lender normally will require an appraisal to determine that the selling price does not exceed the property's market value or fall below the lender's mortgage. Everything you need for court related issues. The Intelligent Alternative to Court. Excellent legal service at your convenience.