Gloria could not have been more helpful or trustworthy during my search for a new home. She promptly arranged showings at my convenience and responded just as quickly with answers to questions stemming from the visits. After writing the offer, Gloria immediately called the other realtor so it could be delivered that night. During the red tape process, she kept me informed every step of the way. Gloria demonstrates a sincere interest in her clients as well as a dedication to fulfilling their wishes. Gloria is extremely proficient as a realtor and I would highly recommend her.
What is the Difference between Sale Price & Assessment?
Here is one of the most commonly asked questions at Assessment Notice time: We recently purchased a property, why is it assessed at a different price then the purchase price?
This could be due to a couple of reason:
First, the motivation of the buyers and sellers can affect sale price. Therefore, when very similar properties are sold during the same time frame, a range of sale prices can result. The market value assessment reflects sales in the middle of this range of prices. As a result, the assessment could be higher or lower than a specific selling price.
Second, market values may have changed between valuation day and the date you made your purchase. For example, in some areas, market values have increased since January 1. If this has happened in your area and you have only recently purchased your property, it is possible that your assessment, while representative of your type of home 3 or 4 months ago, will be lower than your purchase price.
The purpose of the assessment roll is not to reflect a single sale price, but to assess all properties at market value on the same valuation date, so that taxation is fairly and uniformly shared.