Did your property taxes just go up in Chelan County? Recently, properties in Chelan County were reassessed and many people received a letter in the mail showing them their home’s new assessed value. Many property values went up while some stayed flat or decreased. But what does this mean for your home’s value?
Well, I am here today to tell you not to worry about the assessed value. There are four different ways to value your home.
The first is the assessed value, which is what you received in the mail. This is the valuation done by the County Assessor for tax purposes to figure out an even distribution on property taxes based on the value of your home.
While your taxes may have gone up and you might not like that, the second and more important method in determining your home’s value is an appraisal. An appraiser can tell you what your home is really worth. In most situations, appraisers are hired by lenders to protect their interests during a home sale. They want to make sure that before they give you the money to refinance or to purchase a new property, the place is worth the money.
 “An assessed value is the valuation done by the County Assessor for tax purposes.”
The third way to determine your home’s value is one that’s come up in the last five to 10 years: computer valuations (though they’re not very accurate). Zestimates from Zillow are the most common. If you go to their website, they will even admit that their Zestimates can be up to 18% off a home’s true value. However, their data and computers are getting better and better at analyzing it.
The final way you can value your home is with a broker. We call this a “broker price opinion.” It tells you what your home would sell for in today’s market. We do a comparative market analysis and look at what recent sales have happened and how to position your home to find a buyer.
Those are the four ways you can find the value of your home: assessed value, appraisals, computers, and brokers. If you want to find out what your home is worth in today’s market, give me a call or send me an email. I would be happy to speak with you about it and help you find what we can sell your home for.