I'm in the process of looking to buy a home in Tyler. I'm noticing some rather large variation in sell price versus tax appraised value. We actually looked at two homes in the same subdivision (same school district) that were 4 streets apart. They were equivalent in age but about 150 square feet difference. One listed 8K below it's tax value and the other listed 35K above it's tax value. It seems most we look at are asking on sell price well above the 2011 tax market value. Is this typical given the current housing market condition? Is it crazy to buy a house listed 20-30K above it's tax value? Just curious on the green screen thoughts.
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it's only good business for a homeowner to protest their tax valuation EVERY year. If you don't you can get those 40-50K spreads or more on tax value on basically identical houses.
You aren't going to be able to finance the house anyway without a REAL market appraisal from a professional appraiser that uses market comps. -
I like the fact that the tax value is less considering I'll pay less on taxes. I hear mixed comments on tax value vs. sell price comparison from realtors. I wonder if it gives a buyer negotiating room when the house sell price is much higher than the tax appraised value? Some say to ignore the tax appraised value even if there is a big difference from home to home on the same street.Comment
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Our tax value is significantly lower than the home value. I would not use tax value for your considerations.
BTW, there's a nice home for sale down the road from me in Lindale, nice neighborhood, no subdivision, and great school district. I have been living here for 13 years and never heard of any of my neighbors having a break in.
ToddComment
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I would pretty much not worry about tax value. Everyone wants those to be lower than actual value due to taxation.Originally posted by HogHunter34 View Post
The best indicator of value is recent comparable sales. Ask your realtor to pull comps and negotiate based on that. Also, get an inspection and negotiate with repairs that are clearly needed.
im in the mortgage business too, so if you need help let me know..Comment
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Yeah my wife and I have been back and forth on location. Lindale was originally where we thought we would buy. It puts me about 18-20 miles from work. I'd like to get closer if at all possible considering fuel prices are on the up and no relief in sight. It is a very nice area though.Originally posted by BoneDigger View PostComment
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This. The bank or finance company will have it appraised. If the asking price is out of wack from their appraised value, they more than likely will not approve the loan.Originally posted by cosmiccowboy View PostComment
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I protest my taxes every year. My taxes are the lowest on my block. But I wouldn't sell my house for less than $100k above my tax appraised value.Comment
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Tax assessed value doesn't really tell you anything. After you buy a house, if you pay below tax assessed value you can supply your contract to the county appraisal district and get the assessed value lower to the contract price. Just buy the house that works for youComment
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I made the trip from Lindale to Tyler for work for 13 years. It's actually a fairly quick trip. Whitehouse is also another nice area, and much closer to Tyler.
ToddComment
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Their taxes and utilities are insane though. I drive into Tyler everyday from van. I'm in the country. Only a 30 minute trip (24 miles) to work and were 10-15 from a Wal martOriginally posted by BoneDigger View PostComment
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Zillow.com is a good site for getting an approximate value of the house your considering, they use several factors to arrive at their estimate.
I also make a 40 minute drive to the county offices every May to battle to get my tax appraisel lowered. Big fun...Comment
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Look at school districts first then home prices second...
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Don't worry about that tax assessed value...as soon as you buy, they will reassess the values anyway and the previous owners negotiations can be shot down for you.Comment
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My tax value is WAY less than the actual value. I bought a repo, right in the slump of the market when prices were at their lowest. As soon as tax bills came out, I went down and protested, taking with me the actual appraisal from my purchase and showed them point blank that my house recently sold for over 35k less than their tax valuation. If that's what it sold for, that's it's value, right? They lowered my tax valuation and my tax bill, but I would bet dollars to donuts that my neighbors' house, which is virtually identical to mine, is still valued at the original higher value by the tax appraisal district.Comment
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