Assessed Value???
Stephanie Zarr
If you got a letter in the mail this week from the Cherokee County Assessors Office, and you don’t know what it's for or about, YOU ARE NOT ALONE. I have been asked by many people, “What does assessed value mean?”, and “Why is it changing?”.
Tax Assessment
Synonyms: evaluation, estimation, appraisal, analysis, valuation, appraisal, calculation, costing, pricing, estimate
In relationship to the TAX of Real Estate (land and permanent improvements), it is the dollar amount that the government uses to base how much they are going to charge you for your house or land that you own.
This should directly correlate with what your property would sell for if it where currently being sold on the market, however it is NOT always ACCURATE.
The County Government has decided that in order to bring everyone's assessments up to date they needed to have a mass appraisal of property value in the county. They hired a private firm to do the "appraisal" of those properties. This was conducted in 2016/2017 and is now going into effect for tax year 2018.
This leaves a lot of skepticism around about the process and its accuracy. A Realtor or an Appraiser can be helpful in this situation. Their Professional Opinion can be very helpful if you decide to contest your TAX ASSESSMENT.
If you are questioning what the valuation of your home I would be happy to look into it for you, contact me, Stephanie Zarr Realtor at EXIT Realty Midwest
*Content Cherokee County Assessors Web Page
*photo courtesy of newsday.com
