What does Adjusted Sale Price on the Comparable Sales Report mean?

As the appraisers determine “market value” for properties they use recent sales of properties that are as comparable to your home as possible. However, rarely are two homes “identical”. Therefore, the valuation model makes adjustments to sale prices to reflect those differences. If a house exactly like yours sold, but has a three car garage, and yours only has two… the sale price of the other home will be adjusted downward. This ensures sale prices of comparable homes are properly considered, and reflect an apples-to-apples comparison to your home.

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1. Why has my valuation changed?
2. How has the COVID-19 environment affected the valuation process?
3. How does the Assessor’s office evaluate the real estate market?
4. How is my assessed value determined?
5. How do I schedule an informal hearing?
6. I need to discuss my concerns with an appraiser. How do I schedule a telephone hearing?
7. What if my property is assessed higher than I could sell it for?
8. Can I schedule a single telephone hearing for multiple properties I own?
9. How long does a telephone hearing last?
10. How long does the hearing last for each property?
11. What should I prepare for a telephone hearing?
12. How will I know if my value has changed as a result of my submitted information?
13. What if I still disagree with the valuation?
14. What is the role of my assessor in property taxes?
15. Can I leave feedback regarding the customer service in the Assessor’s Office?
16. What does Adjusted Sale Price on the Comparable Sales Report mean?