Assessments: What They Mean To Sellers - part 3 of 4
What do assessments mean to sellers…WELL THAT DEPENDS…Are they going to be staying or going?
If a seller is not going anywhere soon, they want their assessment to stay as low as possible. After all, that is what their tax bill will be based on, can’t blame them for that! Low assessment, lower taxes.
If the seller is planning on moving soon, they don’t mind a higher assessment. They know buyers will look at the assessment, and it might help them when it comes time for a buyer to write an offer. They are hoping that the buyers aren’t informed on the current trends in the relationship of assessment to market value. These sellers will definitely not be fighting their assessments, even if they consider them too high.
As stated in earlier posts, assessments are dated, and are not indicators of market value, but with studies of other comparables, a trend can be revealed as to the market value. While assessments throughout the suburbs of Greater Milwaukee vary widely, within neighborhoods or subdivisions patterns do develop. For help understanding your assessment and fair market value call me today!
Posted by:
Pat Tasker
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