Planning to sell home and i believe it is worth more than my county tax markey value suggests, is this possible?
2007-06-17 07:15:09 · 3 answers · asked by robin p 1 in Business & Finance ➔ Taxes ➔ United States
The county valuation for tax purposes often bears no semblance of reality to current market value.
If you are interested in selling your home, you should either get a market analysis from a licensed real estate agent or better yet, a formal appraisal from a licensed appraiser. The buyer's lender is going to require one anyway so it won't hurt in the long run to get it out of the way now. And it will strengthen your bargaining position in case someone tries to low-ball you.
2007-06-17 07:21:08 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
The typical adjustment I have seen for pools is around a $10,000 increase to value, obviously this is totally dependent on the area. If you are the only pool in the neighborhood, it may not add any value. If a pool is common in the neighborhood and highly desirable, then it will add some value. The thing is, even a normal pool costs $30-40,000 to install, so it can be hard to re-coup the cost of a new installation. It is just a personal preference. Some buyers won't even look at homes with pools while others have to have one. You really have to take the area and demographic into consideration. Of course pools require a lot of maintenance, extra water expense and electricity for the pumps/heater.
2016-05-17 23:19:49 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's definitely possible. Tax assessments don't necessarily reflect the actual market value of a home, although they are supposed to.
2007-06-17 11:04:21 · answer #3 · answered by Judy 7 · 0⤊ 0⤋