Secured with SHA-256 Encryption
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Sometimes property tax rates can go up, even if property value does not. The likelihood of rising property tax rates combined with falling or steady home values can vary depending on what state you live in. Some state legislatures have the power to allow a rise in property tax even when home values decline. In many other states, mathematical formulas are used to decide the relationship between property tax rates and home values.
→ Read MoreIn most states, home owners can refuse to let assessors enter their property. There are even cases where homeowners call the police, and the assessors are arrested for trespassing. Many of these cases result in the prosecutor not pursuing any charges against the trespassing assessor, who is usually (but not always) a government official.
→ Read MoreThe main reason that an insurance company appraisal and independent home appraisal based on market value differ is because they look at two different things. The insurance company appraiser is focusing on assessing the replacement value of your home, and only your home or garage. If you have your home appraised to determine market value, then the appraisal is based on both the worth of the home and the land.
→ Read MoreBecause of the methods used to assess home values, changes in similar properties will affect your property value as well. One property sale does not really determine market value. The price you paid for your home will be verified, but then it will be pooled with sales of similar homes. The appraiser uses this collected information to determine your property value. Each state also uses a different system for how home values are verified. Some states allow a certain flexibility between individual home values in the pool.
→ Read MoreFind the right lawyer for your legal issue.
Secured with SHA-256 Encryption
