Knowing the assessed value of a particular property can be a huge help in buying, selling or refinancing. However, with multiple valuation methods and terms available, it can be difficult to distinguish one from the other. Luckily, there are some simple ways to find the assessed value of your home. Here are the basics:
The assessed value of a property refers to the estimated amount your home would sell for. This value is key in determining how much you pay in property taxes every year. A lower assessed value will generally equal lower tax rates and vice versa.
To find the assessed value of your home, you would need to know a few other variables first. One is a percentage known as an "assessment rate" determined by the local county or other municipality. You also need the market value of your home, which can be determined by a real estate agent, and the appraised value, which you can get from a professional appraisal.
To calculate the assessed value, you multiply the market value by the assessment rate. For example:
Assessed value = (Market value x Assessment rate) / 100
If you're planning to sell or buy a home, it's important to familiarize yourself with these terms. Even if you're not planning to buy or sell, knowing your home's value can help you make more informed financial decisions.
Having the distinction of representing many of Marin and San Francisco’s most luxurious homes, Colleen Fitzpatrick brings a wealth of expertise and experience to her clients. Her finesse in handling high-end transactions has been finely tuned with the highest level of integrity and diplomacy. Associating with Golden Gate Sotheby’s International Realty has further broadened her sphere to include a network of highly skilled associates all over the world.
Throughout her career, Colleen has partnered in the construction of over 25 homes, 4 for her own family, and participated in numerous land subdivision projects, so her clients benefit from her broadened perspective. In her free time, travel, especially to India, has become her passion.
Colleen’s commitment to her client’s success, adhering to the highest level of professionalism, and holding her support team to this same standard is assured. She is highly aware of the discretion and privacy necessary for her clientele. Working with Colleen, sellers, and buyers can be confident they have made an excellent choice in their selection of an agent.
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