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Lady Themis
Lady Themis, Internet Researcher
Category: General
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Hi, I have put my house on the market . I have always understood,

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Hi, I have put my house on the market . I have always understood, that the
jurisdiction in which you live always, appraises low for tax purposes.

Does any one know if this is true.

Thank you for your question.

My research indicates that, per Virginia law, real estate is assessed at 100% of fair market value in a "uniform and equitable manner." It may be that appraisals for the purpose of obtaining a mortgage may result in a higher fair market value than appraisals for purposes of assessing the property. It would be in the county's best interest to assess at the highest possible fair market value, so that would go against the idea that the county assesses low for tax purposes.

I hope this answers your question. Please let me know if you have any follow-up questions, which I am happy to answer. Once you are satisfied, please kindly rate my service, as that is how I am compensated by the website. Thank you.

Customer: replied 4 years ago.

What about North Carolina law? Thanks

I'm sorry, your geographical area is listed as North Boston, Virginia. What county in North Carolina is this?

Customer: replied 4 years ago.


My research indicates that North Carolina operates in much the same way. Assessors analyze cost, sales, and income data to come up with an accurate appraisal. Again, it is in the county's interest to appraise high.
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