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Town Assessments vs Sale Value?

DO TOWN PROPERTY ASSESSMENTS HAVE
ANYTHING TO DO WITH THE SALE VALUE
OF YOUR HOME?
 
No, "Property taxes are more a function of how much money a community, municipality, and/or county need to operate", said James Lumley, author in a recent Greenfield Recorder articled by Erik J. Martin.
 
There are steps you can take to figure out if your real estate tax burden is inaccurate; the town's process leaves room for human error.
 
1. Check the accuracy of the town information on your property.  Is information like the number of bathrooms, garage and square footage correct?
 
2.  Examine comparable properties in your neighborhood to see how you match up.
 
3.  Talk to your Coldwell Banker Upton-Massamont REALTOR about current real estate values and possibly obtain a comparative market analysis.  Consider paying for an appraisal by an independent professional.  This information will give you current property values in today's real estate market.
 
Ultimately, the information to keep in mind is town assessments have nothing to do with current selling prices of real estate and are used as part of the formula to generate income to operate your town.  For more information from this Recorder article go to http://www.recorder.com/real-estate .

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