Determining the value of a home

Appraisal.

Takes into account condition, comparable sales, etc.

Tax value may be based on old info pre-fix up.
 
jmccracken1214 said:
Looking at some remodeled older homes, and seeing where they have been purchased for 40-60k and now are fixed up and being sold at $150,000+ How does one determine what is fair value? Tax value is almost half of what asking price is.

Example

https://www.zillow.com/homes/for_sa...2b115c65eX1-CRsx4q7v7asrjy_11yqy2_crid/0_mmm/
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@rantingredneck said it for the most part

What determines how much upgrades are worth? The market. The best evidence of that are sales comparisons (comps) of similar properties within a reasonable distance of your subject property
 
If you’re using a realtor (one representing you, not the seller), ask him/her to prepare comps. Then, I agree that the final step would be an appraisal and your offer should be subject to a report from a professional inspector.
 
Most modern counties these days will have a sales comparison function on their Assessor’s site or the GIS site. In Richland and Lexington counties here in SC around Columbia, you can enter in the types of property (vacant, rural/residential, improved, commercial, etc etc) with all the variables (age, lot size, heated SF, etc) and search within X distance of Y address and basically dump the sales that are older than 18-24 months unless that’s the only thing out there

Worth looking into
 
Only an appraiser can declare a value. A good realtor can perform a similar analysis and give you an estimated market price.
 
And no matter WHAT you do the tax assessor won't accept it and just slam you with the highest value he/she can get away with.

Just because some "people" bought a couple of acres down the dirt road from you and built an expensive mansion doesn't mean your house is now worth more. If the county would offer me what they say it's worth they can have it and I'll move!!
I thought when we paid off the mortgage years ago we now "owned" the house. Don't pay the tax they say you owe and see who "owns" your house!!
Old folks on SS shouldn't have to pay outrageous taxes. We paid them for years. Let us live out the rest of our short time on this Earth in Peace.
 
SSgt75 said:
Old folks on SS shouldn't have to pay outrageous taxes. We paid them for years. Let us live out the rest of our short time on this Earth in Peace.
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Thank you...………………………………………………………………………………………….
 
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