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Whats the difference between the appraised value and the assessed value of the house?

April 26, 2017appraised assessed difference House value

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Whats the difference between the appraised value and the assessed value of the house?

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The “appraised value” is the value of your home as determined by an appraiser. The “assessed value” is the value of your home as determined by the municipal tax department. Usually, the appraised value is higher than the assessed value.