So let’s first start by tackling market value. The market value of a home is how much a ready, willing, and able buyer is willing to pay for the home.
The appraised value of a home is the value determined by an appraiser. If you are a buyer financing the purchase of a home, your lender may require the property to be appraised by an appraiser. The appraiser works for the lender and his job is to determine if the value of the home is equal to or greater than the amount that you are financing.
The tax appraised / assessed value of Spring Texas homes are determined by either the Harris County Appraisal District or the Montgomery County Appraisal District dependent upon which county the home is located in. It is the county’s calculated market value of the property as of January 1st of the tax year. The majority of the time, the tax appraised value will be lower than the market value of the home.
If you are a buyer, the values you need to focus on are the market value and the appraised value. If the tax appraised value is higher than what you paid for the home, you need to protest it with the county appraisal district. If the tax appraised value is lower than what you paid for the home, keep that little secret to yourself and just enjoy the lower tax bill.
If you are a Spring Texas home seller wanting to estimate how much your home will sell for, then market value is what you want to focus on. Your Spring Texas Realtor can compare what similar homes to yours have sold for within the last six months and provide you with an estimated sales price.
If you are interested in learning about ways to reduce your real estate taxes, read the following:
If you have questions about the different values or want to know the market value of your home, please contact Jill Wente at 281.804.8626.
Jill is amazing and by far the best realtor I have ever worked with and if I could give her... read moreJill is amazing and by far the best realtor I have ever worked with and if I could give her 100 stars I would. I listed my home with Jill after having a bad experience with a very well known agency that advertises their ability to sell your home fast - which is what we needed and what they did not do.
I think what is most important to know if you are looking to hire a realtor is that the other company had my home on the market for weeks with minimal showings and no offers. With no major changes to the home Jill had my home on the market for TWO days and we ended up with NINE offers - the house closed in 21 days at a price above list price!
Jill was able to do this because she is a consummate professional, she has developed a process from your initial meeting to the closing that is stellar. Her level of service is extraordinary and going above and beyond seems to be her standard operating practice.
I highly recommend Jill if you are looking to hire a realtor!!! read less