Boston Condos For Sale: Why Is The Assessed Value Lower Than The Sales Price Value? Boston Condos For Sale Ford Realty

Boston condos for sale: Why is the assessed value lower than the sales price value?

Assessed value is not the same as market value or appraised value. There are many Boston condos that could be sold for significantly more than an assessed value and others that maybe sold for less. The assessed value of a Boston Seaport condo is used for the purpose of taxes in your local municipality. The assessed value of a Boston Beacon Hill condo is multiplied by the local tax rate to determine what your yearly taxes are. The assessed value has no impact on how much your Beacon Hill home is worth to a potential buyer in the marketplace.

Boston condos asking price

Unfortunately, there are many Charles River Park condo buyer’s who believe that a home that is listed higher than the assessed value is overpriced. This is the furthest from the truth. Boston condo for sale buyer’s also question if something is wrong with a home if the list price is much less than the assessed value. The bottom line is the assessed value has no impact on how much your home is worth. There are home owners who don’t pay attention to their assessed value, just to find out their municipality has been slowly raising it, year after year, even though the market value hasn’t been increasing.