What is the “assessed value” of a home?
The assessed value is devised and written by the city or town in which the property is located and is usually used to determine property taxes or “assessments” for that particualr property. Many people confuse ‘assessed’ value with ‘appraised’ value, however they are quite different. The ‘appraised’ value of a home is what will most closely match the true ‘market value’.
