What are the possible reasons my home’s assessed value may be incorrect?
What are the possible reasons my home’s assessed value may be incorrect?
Several factors can lead to an inaccurate assessed value of your home. These may include errors in property description, such as incorrect square footage or misclassified features like the number of bedrooms or bathrooms. Recent renovations or improvements may not be reflected in the assessor's data, leading to undervaluation. Neighborhood changes or shifts in the local market can also impact your home’s value. If you believe the assessment is incorrect, you can challenge the valuation through the local tax assessor's office, often by providing evidence of the home's actual value.