Farmington Hills Michigan Appraised vs Assessed Prices home questions picture

Farmington Hills Michigan Appraised vs Assessed Prices

Thomas Gilliam assessment , Blog , Farmington Hills , farmington hills appraisel Leave a Comment

Appraised and assessed prices are regularly mistakened for each other. As a buyer or home seller, it is useful to understand how they differ. Details on Farmington Hills Michigan appraised vs assessed prices is provided below. What Are Assessed Prices Localities require a property tax on residential real estate. The sum is derived from the tax rate multiplied by an assessed value of the real estate. Assessments are used only for measuring taxes and do not necessarily coincide with the market value. Every municipality formulates assessed value differently. They usually look at land area, interior features, and exterior features such …