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What is the difference between a certifed real estate apprisal

and a state property tax...
What is the difference between a certifed real estate apprisal and a state property tax apprisal. Is one report generally more trustworthy than another?
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Answered in 2 minutes by:
10/27/2013
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,291
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Lane :

HI,

Lane :

A certified appraiser is certified by a non-profit professional association and licensing organization

Lane :

The professionals have the objective of being as accurate as possible, relative to the actual fair market value of the asset

Lane :

A state property tax appraisal is done by a government employee (who MAY be certified by one of the appraisal orgs) but the objective ther is to drive numbers for property tax assessment purposes

Lane :

In Cities such as Detroit the boards of appraisal are simply COVERED UP with complaints about the property tx appraisals being NOWHERE near the real value of homes, as the market there has simply fallen through the "floor."

Lane :

In SOME areas the appraisals done by the county nand other municipal appraisers for property tax purposes line up well with what an independent certified appraiser would say the real-estate is worth

Lane :

look across a broad geographic area? I would trust the certified appraisers (over municipal tax appraisers) generally

Lane :

Many state regulate the licensing of appraisers just as they do accountants n doctors and other state boards

Lane :

Here's an example of a course/school that prepares one for the Georgia appraisal license: http://careerwebschool.com/georgia/appraisal/qualifying/?gclid=CPfkz47ftboCFenm7AodDB8APA

Lane :

and here's a course designed for state certification that's delivered (sold) by the first organization I showed you:http://www.appraisalinstitute.org/education/state_cert.aspx

Lane :

and Finally, the words CERTIFIED appraisal are generally used when referring to a state licensed appraiser

Customer:

I tend to believe a state assessor is more likely to deserve the honor., A least they ought to be accored such a reputation. why so? they have no personal financial interest, in the succcess or failure of any sale. Second,since the public can become irate over a report, would a state official be predisposition to avoid such conforntations, woulon't they naturally adopt

Lane :

A state licensed appraiser (paid by an organization or individual to accurately assess the value) ... YES, absoltely

Lane :

But an employee of a county or municipality has the objective of their employer (to collect as muc tx revenue for the municipality as possible)

Lane :

(sorry for the typos)

Customer:

wouldn't they have a secondary tendency to accuracy, honesty and fairness?

Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,291
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Thanks David.

As a last thought, yes I believe that in MANY (probably most) county offices the appraisers have integrity.

But the drop in real estate values over the last several years has caused the places where taxed values and real values were kept in artificial disparity to ... "bubble to the top."

Independent, just because they are paid by the person ASKING for an appraisal, don't have that SAME kind of pressure.

HOWEVER, this same dynamic can work in private issues too (think of the estate planer who hires an appraiser to value something for an estate tax form 706 preparation).

This point's out what is probably more important than the "type' of appraisal in making the assessment of fairness and integrity; (1) Who's paying for it and (2) What will the results of this appraisal affect?

Thanks for the rating.

Lane
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Lane
Lane
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