What you need to know about the difference between an assessment and an appraisal.
- Patrick Stuckwish
- Feb 2, 2023
- 1 min read
The difference between an assessment of your house and an appraisal of your house
When you're buying or selling a home, it's important to understand the difference between an assessment and an appraisal.
An assessment is a detailed inspection of your home that is performed by city workers. The purpose of the assessment is to determine how much tax you should pay on your property—the higher the value of your home, the more money you'll have to pay in taxes.
An appraisal is performed by a professional appraiser who will assess the value of your home based on comparable sales in your area and other factors. This number should be used when negotiating with a buyer or seller.
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