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yer! A homes market value and assessed value are two different things. In many circumstances they do not have a correlation to one another. Assessed values are nothing more than a yard stick for a municipality to collect an appropriate amount of taxes to sufficiently cover the state and local appropriations chargeable to the city and town. There are many properties that sell over assessed value and just as many that sell under the assessed value.

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Q: Should I buy a home at its assessed value and are homes usually purchased at a price below the assessed value?
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What is assessed value of real estate?

The assessed value of real estate is the value assigned to real estate by the County Assessor's Office for the purpose of assessing taxes. The value is based on sales of similar real estate. Using the free website link below "Assessor and Property tax Records Resources" you can access the "Assessor" website link for all of the counties in the U.S. From the main page, choose a state and then scroll to your specific county where you'll find the link "Property Search" where you can search for the assessed value of all properties in the county.


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Artificially keeping the price of a commodity below market value by governments (usually by selling massive quantities) is to try and achieve the appearance of a greater value in something else.


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a price ceiling set below the market equilibrium creates an excess demand, leading to a shortage of the good. Think about it like this, if a good is a lot cheaper than it should be, more people would want to buy it, but less people would want to make it, since its so cheap.

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If you purchase a home below market value will your property taxes also become lower than average?

Depends on the assessed value of the house. That is what property taxes are based on. Not what it sold for.


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