Appraised Value vs. Assessed Value
Appraised value: An appraised value is an evaluation of a property’s value performed by a professional appraiser. The value is based on factors such as location, access to amenities, condition and what other similar homes in the area have recently sold for. It, essentially, is what a buyer would be willing to pay for the property.
Assessed value: An assessed value is determined by a municipal or county tax assessor, who determines what the property is worth, to calculate the appropriate tax rates.