Now that we have our new Assessed Tax Valuations in Wake County North Carolina, we are seeing the usual suspects come out of the woodwork in and around Cary and Raleigh, and other areas.
Already real estate agents are huffing and puffing about assessed tax value, hoping to mislead people regarding the market value of property. They are playing on homeowners' fears regarding higher real estate taxes.
"$10,000 below Tax Value!!!!" absolutely does not make a property a bargain. If that is all the market will support, it is likely that an appeal is in order to get the tax value reduced so it is in line with market value. Basically getting valuations in line with market value is the goal of the Wake County Revenue Department. They expect appeals, to help them set values accurately.
"Your Tax Value is lower than the Listing Price." So? You can buy the house and appeal to the County to raise your taxes, if that will give you more comfort. I'm sure they will be delighted to accommodate your request. Otherwise, you are getting a bargain on your property taxes in your new home
The Wake County Revenue Department cannot possibly assess the condition and value of individual properties. They actively seek the input of professionals, real estate appraisers and REAL ESTATE AGENTS, who are in the field daily.
I think that a Wake County real estate agent who uses tax value to price a home, or to promise a specific sale price to a prospective listing client, rather than doing a thorough and accurate market study is just not doing their job, and not taking care of their client properly.
When seeing this type of misleading, "There's a sucker born every minute" marketing, the consumer is wise to beware the source and seek an ethical Realtor for counsel on market conditions.