Quick Answer: What Does Tax Assessment On Zillow Mean?

What is a tax assessment on Zillow?

This is the price the government tax assessor estimates the property would sell for on the open market as of the effective date for the assessed value for the year in question.

The assessor’s market assessed value is based on actual historical sales of similar properties for a specified study period.

What does a tax assessment mean?

Freebase. Tax assessment. An ‘assessor’ is a specialist who calculates the value of property. The value calculated by the assessor is then used as the basis for determining the amounts to be paid or assessed for tax or insurance purposes.

Is Zillow tax history accurate?

No. Zillow is very accurate. It is not precise.

What is the difference between tax assessment and property taxes?

A property tax assessment determines the market value of a piece of property. Assessments are usually prepared as of a specific date each year, and they’re often based on recent sales of comparable properties in the area. Local governments use your tax assessment as the basis for your annual property tax bill.