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What is Assessed Value vs. Market Value?

What is Assessed Value vs. Market Value?

Not sure about the difference between assessed value vs. market value? Whether you’re planning to buy or sell a home, knowing the difference between these two valuations is important.

In this post, Scott Coldwell and our real estate experts at Your Home Sold Guaranteed Realty - Coldwell Real Estate Services will explain everything you need to know about assessed value and market value.

Key Takeaways:

  • The assessed value of a home is used to calculate the amount of property tax the homeowner pays each year. It’s determined by a local government tax assessor.
  • A home’s market value is essentially what a buyer is willing to pay for it under the current market conditions. It reflects the current supply and demand levels and pricing trends in the area. 
  • Market value matters more than assessed value when buying or selling a home. If you’re buying, the price you’ll pay for a home will be based on market value, not assessed value. And if you’re selling, you’ll be listing your home for its market value, not its assessed value.

What is Assessed Value vs. Market Value?

Assessed Value

The assessed value of a home is used to calculate the amount of property tax the homeowner pays each year. It’s determined by a local government tax assessor, who considers factors like size, location, recent improvements, and comparable sales in the area.

The assessed value of a home differs from market value because it incorporates state and local tax policies, tax exemptions, and tax assessment ratios. 

Assessed values also tend to be more stable and don’t fluctuate as much as market value, which can shift depending on current pricing trends. As a result, knowing the assessed value of your home won’t help give you an accurate picture of its fair market value.

Market Value

A home’s market value is essentially what a buyer is willing to pay for it under the current market conditions. It reflects the current supply and demand levels and pricing trends in the area. Factors like low inventory, high buyer demand, and bidding wars can rapidly increase housing prices, leading to higher market values regardless of assessed value.

To determine an accurate market value, you’ll need to work with an experienced Ocala realtor who’s familiar with the local market. Since market trends can shift quickly, working with an agent is the best way to gain real-time insights into your home’s true worth.

Market value matters more than assessed value when buying or selling a home. If you’re buying, the price you’ll pay for a home will be based on market value, not assessed value. And if you’re selling, you’ll be listing your home for its market value, not assessed value.

Get a Home Appraisal Today When You Work with Scott Coldwell

What is Assessed Value vs. Market Value?
Scott Coldwell

An accurate market valuation by a knowledgeable realtor is the best way to maximize profits in a sale. At Your Home Sold Guaranteed Realty - Coldwell Real Estate Services, Scott Coldwell and our team can easily help you find the market value of Ocala homes

Our track record of success speaks for itself– on average, we sell homes 48% faster and for 2.4% more money than our competitors. Plus, with our buyer and seller guarantees such as our Guaranteed Sale Program and Buyer Protection Plan, you can ensure a risk-free real estate experience.

Contact us today at 352-290-3512, send a message to [javascript protected email address], or use the form on this page to learn more about working with our team. Selling a home doesn’t have to be stressful when you work with the best realtor in Ocala and all of North Central Florida!

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Scott Coldwell $ 223 SW Broadway St, Ocala, FL 34471 352-290-3512
Scott Coldwell, Broker/Owner
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