I have noticed that many of the homes are priced much higher than the assessed tax value. Some by 75,000 dollars. Do

Appraisal Tax Value is inaccurate a lot of the time.

The appraisal districts valuation process isn't always in line with market value, I would use recent sales your realtor could provide you with as a better determination.

I personally own three properties in three different states and they all have assessed tax values lower than their market value. That is good for the home owner because you are paying lower taxes.

If your home was priced according to market value for tax purposes then your annual tax payments would be much higher.

People should realize that there are essentially four different prices for real estate: what someone is willing to pay for your house, market value dictated by a comparative market analysis (CMA), Zillow/Truila value, and tax assessed value.

All four of these can and likely ARE different. The most important thing is what someone is willing to pay for your house. If it's in bad condition or has some other negative factors then it may be tough to have someone pay market value for your property. your house look visually clean and well-kept is probably one of the best things you can do to get market value.

If you have questions regarding any other tax related questions with real estate then feel free to reach out to me.

Evan Altemus
Berkshire Hathaway Anderson Properties
832-819-8859
evan.altemus@gmail.com
www.evanaltemus.com

Assessed tax value is NOT the same as market value. People who protest their taxes every year typically have lower assessed values.

Property taxes accumulated by the Harris County Appraisal District serve as a source of income to the state. These taxes come in the form of a percentage where many different councils, boards and legislators decide the amount of money that is needed to cover expenses for the coming year.

However, market values can change as often as monthly, depending on comparable sales in your neighborhood.

Firstly, real estate is a risky investment, so I appreciate your concern. Houston is a very hot market right now as home interest is exceeding home availability and our inventory of available homes has become very low. HCAD's appraisals lag current market conditions, such that in a rising market the appraisals will seem low, and in a declining market they will seem high. If you are concerned with the purchase price of a home, you can hire an appraiser to assess the value of the home during your option period. The lender will also use an appraiser to confirm the loan to value ratio. Additionally, a Realtor can show you a range of similar homes that have recently sold so you can assess the value of the home you're interested in. All that said, some buyers simply want the home they want, in the neighborhood they want and may pay more than current market value to get it. Good luck.

I agree...Tax value and market value are not necessarily the same. As a home owner you want your taxes to be as low as possible. Market value really depends on the area as 77077 has a large span of values. Just make sure your REALTOR knows the market.

I have an appraiser on my team which is a big advantage to my buyers. Let me know if I can help.

Darby
936-827-9217

The county tax assessment should be low. Your tax rate is calculated on the assessment the county has placed on the property, and the result of that equation is how much you will pay in property taxes. Texas is a nondisclosure state, which means we don't publicly publish the sold prices of real estate; and the county tax assessor does not have ready access to what the sold prices are for an area.

The market value of a property is the price a ready, willing and able buyer and seller agree to. A Realtor who represents you will provide you with a report of what like-kind homes have sold for in the most recent months, and can even provide you with a 3 year neighborhood trend report on the fluctuation of sold prices for any given neighborhood or area you are interested in.
You shouldn't fear about negative equity. Our detailed sold reports and market analysis will give you proof positive of the values of the homes in the area you are interested in.

I examine the HAR statistical reports each month, buying in Houston is a solid investment!! Our market is healthy and strong.
Hope this helps.

What Le said was right on point. Your REALTOR should run a compartive market analysis for you. The CMA will show you what properties are selling for in the area based on recent sales. If you are getting a mortgage loan, an appraisal will be done by your lender as well.

Assessed Tax Value and Fair Market Value are two different things. What the city thinks your home is worth and what you pay for the home will most of the time be different. You want your tax value low for obvious tax reasons. Remember, fair market value is what one party is willing to sell and what one party is willing to buy.

So don't base a home's market value by tax, but what other homes are being sold for in the same area. Hope that helps.