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how close was your appraisal to your tax value (percentage +/-)? I know CLT is scheduled to begin a reassessment in 2011 and we're looking to buy in Charlotte (selling in Concord). Our neighbors here in Concord sold their house in 11/09 for exactly what their tax value is (appraisal came in right at tax value too), so I'm curious to see how close it is in Charlotte now due to market conditions.
FWIW we're looking to buy in Highland Creek. I'm trying to get an estimate of what's reasonably accurate so I can figure mortgage calculations.
Last edited by uncharch7; 08-15-2010 at 10:42 AM..
I closed March 30th. Appraisal and close price and was 52k less than tax value. House is by Davis Lake. I have already called to straighten our some tax assessment issues since it's not valued correctly. I will be submitting paperwork for the 2011 revaluation to show that they have assessed my house for features that are wrong or do not exist (i.e. fireplace).
Ours appraised and sold for about $40,000 more than tax value.
Hope you realize, tax value very rarely equates to market value
Oh most definitely; I'm just trying to see what's a reasonable estimate for an appraisal value. I'm seeing some priced WAY above tax value and some way below, and some right on in the same neighborhood. Some of these numbers for appraisals would put us right at where we want to be budget wise for a monthly payment and some of the numbers would put us in a much better position; even if the house price is exactly the same.
Market value=what someone is willing to pay for the home
Please be aware that tax value has absolutely no relationship to market value.
If you've read the other posts in this thread, actually, it does. There are several correlations that can and are being drawn from it. Not an exact science, but when it comes to appraisal value, it's giving me the numbers I need to figure finances for this new house.
In addition to the numbers being given in this thread, I'm pulling recent sales in the area we're looking to buy... many in the past 6 months are coming in about 5% above tax value, which means their appraisals had to be reasonably close in order for the sale to go through.
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