HomeInsight - Find out your home's current value

What is a Home Valuation?

In some parts of the country, the valuation and the assessment of a property are the same: The market value of your home is equivalent to the assessed value.

Other areas have an "equalized" (or "adjusted") assessed value, where they take some percentage of the valuation to compute your taxes. Example: The market value of your home is $100,000. The governmental agency takes maybe one-third of that as the assessed value. So for purposes of computing the taxes, they’d only base your property taxes on $33,000.

These cities and counties often use different adjustments for commercial, residential and industrial properties, in order to shift more of the property tax burden to commercial and industrial property owners.