Assessment vs. Appraisal: What’s the Difference?
Assessments and appraisals are the same thing, right? Wrong! They’re actually two different things entirely; one is done to acquire a mortgage, and the other is done for tax purposes. Either way, the values may not reflect what your home is truly worth. The numbers are found by researching comparable properties in the area, but those don’t exactly take into account the ebb and flow of the market. To learn more, watch this short video.
