My Home's assessed value question....?

Question

I was looking up my house's assessed value on-line and noticed my homes assessed value is a about 5 thousand less than both of my neighbors. All of our houses were built in 2004(New subdivision) by the same builder and are almost the same sq. footage and everything. Why would my house's value be less? What causes this and besides paying a couple hundred less in taxes, what are the Pros and cons of this...Thanks

Answer 1

Do they have upgrades on anything that you don't?  Pools...better location on street...wider yard...anything?

Also the assessment can help if it's lower for tax purposes, but when it comes to selling the house, or refinancing than the lower assessment can hurt you.

The 50 square feet may be the difference...but I wouldn't worry about how much they assess for, I'd be more concerned about appraisal value and when I go to sell the house.