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How do appraised value and assessed value differentiate ?

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Question added by Deleted user
Date Posted: 2014/08/08
Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

An Assessed Value is a value determined by the local government and is used to establish property tax payments.

 

An Appraised Value of a property is a valuation conducted by a certified independent professional who visits a property and compares it to similar recently sold houses in the area.

 

Assessed value and appraised value will usually not be exactly the same on a property as the appraised value takes a snapshot in time and will be impacted by market activity.

 

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