Preparing to buy, sell, or refinance a home? It’s important to understand the worth of the property. But there’s more than one way to determine the value. In fact, there are two primary measurements of value to be aware of here: house assessed value vs. market value. Assessed value is the home’s value come tax time, while fair market value is the cost to purchase a home in that area. Each type of valuation has its own purpose: one applies to property taxes, and the other to resale value.
Read my
latest article for Rocket Mortgage to learn more about property tax assessment vs. market value, why both metrics matter, how fair market value is calculated, and how home assessed value is determined so that you can make a more informed decision when you’re preparing to purchase, sell, or refinance a home.
