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If buyers are few and far between when you list your home, theres a chance the market value will be lower than the appraised value. On the other hand, if youre seeing a ton of interest in your home from multiple buyers, you may find that the market value is higher than the appraisal value.
Unfortunately, there is no easy or universal way to determine market value for real estate. However, nearly every market valuation comes down to two factors: real estate appraisals and recent comparable sales.
Assessed value refers to the value assigned a property, such as a home, by the local government. It is used by the tax authority to determine the property taxes that a homeowner owes. Often, its calculated as a percentage of the fair market value of the property.
Californias Proposition 13 caps the growth of a propertys assessed value at no more than 2 percent a year unless the market value of a property falls lower. When that happens, Proposition 8, which also passed in 1978, allows the property to be temporarily reassessed at the lower value.
Transfers into trusts do not trigger reassessment as long as the trustor and deed grantor are the same person. Remodel: Permits for normal repair and routine maintenance such as a new roof, re-plumbing, rewiring or replacing a deck will not cause a reassessment.
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People also ask

market value is used to compute ad valorem property taxes and assessed value is the highest price that a buyer would pay for property.
Appraised value, though, is the amount a professional home appraiser thinks your home is worth; its typically used by lenders when considering a mortgage application. Typically, appraised values are higher than assessed values.
What Is Assessed Value? The assessed value, or tax-assessed value, is a propertys determined valuation to calculate the appropriate property tax rates. An assessment considers sales of similar homes, square footage, current real estate market conditions and home inspection findings in its final determinations.

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