Is the tax assessed value of my home the same as the refinancable value?
Answer Maurice, The tax assessor values and then taxes your home on their own analysis of what value they place on the home. In most places, the values at the assessors office are not kept up to date with current market conditions so in most situations, the assessed value would be lower than the actual value of the home. (Due to rapid price appreciation in certain areas) In most cases, lenders order a current appraisal and that appraisal amount (supposed to be what the house is worth in today’s market) will be used as a basis for the maximum amount you can borrow. There are websites that help you initially estimate your homes value to see what value an appraiser might place on the property. I’d suggest starting at http://www.domania.com/ Good luck.
