tax appraisals and listing prices

Beach Fanatic

May 22, '12 · 1:49 PM1,287

Maybe this is addressed in another forum or has been previously addressed here. If so, please direct me to the link and apologies for my ignorance.
Tax appraisals of my property in Walton have been thankfully low. Am curious if there is any relationship whatsoever these days between tax appraisals, determinations of appropriate listing prices, and subsequent sales. Is there any range of predictable ratios that indicate a relationship? Raw land vs. single family homes? Not getting much help in the tax records. Would be very grateful for info.

Replies

Beach Fanatic

May 23, '12 · 10:11 AM#2

I've looked at tons of homes in the tax records over the yrs and 95% of the time i'd say the tax appraisal is an avg of 30-40%less and spmetimes 100% less than the actual value

Beach Fanatic

May 23, '12 · 10:19 AM#3

I think the tax appraisals are very low right now - with the exception of a couple neighborhoods. Typically the tax appraisal value is significantly less than the market value, but they do vary greatly.

Beach Fanatic

May 23, '12 · 12:11 PM#4

As I understand it, valuation for the purpose of taxation was suppose to be based on a minimum of 80% of fair market value. The problem occurred that when they limited the increase to 3% and then the market hit the toilet it all changed. I could be wrong about this but it seems familiar to me.