Tax (Assessed) Value
is the estimated sales of a home in 2013, updated every 5 years.
Market Value is the
estimated price of a home compared to other properties around it.
Home owners and real estate
licensees may use the values placed on their properties from the Montgomery
County Tax Assessors Office to arrive at the present value of their real
estate. Statements from this office were
mailed to owners of real estate in this county around the middle of June,
2014. This information came on a small
card approximately 3 x 5 inches.
These values were arrived at by using market value of similar properties
sold in 2013. The previous property
values were arrived at from 2009 sales comparisons. This will be the same assessed value for
the next 5 years.
Many home owners think this new
value is the amount their real estate went up in one year. The value placed on the property this year
is a reflection of the increase in value over the last 5 years.
The best price your house will
bring today is arrived at by looking at similar properties that have sold since
Jan. 1, 2014 (market value).
~Chuck Padgett
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