Buying A Home
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Got Appraisal Back

We got the appraisal back and it is 9,000 over our purchase price so we are now waiting for the underwriting.

 My only other question is who do we talk to about getting the appraisal for tax purposes or can they use the same appraisal?   

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Re: Got Appraisal Back

  • What tax purposes? Property taxes? The county would do their own appraisal for property taxes.

    I have never used the appraisal for anything other than making sure the loan is less than the value.

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  • Tax appraisal is totally different.  And, as far as I can tell, has no discernible formula.  We tried to use our appraisal to appeal our property taxes but had no luck.
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  • imagecurlylocks3:
    Tax appraisal is totally different.  And, as far as I can tell, has no discernible formula.  We tried to use our appraisal to appeal our property taxes but had no luck.

    From my understanding, tax appraisial value is usually calculated by average price of house in neighborhood, and factoring in # of square feet and lot size compared to other neighborhood houses - from my understand, tax appraisal is just math.

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