How do the home values shown on your site compare with tax assessed value?
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25 months ago
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Tax Assessed value is the value that the township places on a property and can be dated or wrong to the true value of the property. The reason that assessed values can be wrong is the township will normally only update an assessment because of a sale of the property or a tax appeal by the home owner. If someone has lived in their home for a long time 10+ years than there tax would usually be lower than there neighbors. Also the ratio from assessment to value is different for every town. By the way the tax ratio for Bordentown City is 105.66 and Bordentown Twp is 106. Feel free to connect with me to discuss further.
This will be different in most all cities. In Dumfries VA, the sales prices are $50,000 or more above the assessments. In Virginia Beach VA, the sales prices are just below the city assessments, so it all depends on the local government and the market trends of that specific area.
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