Let’s talk about Tax Assessed Values. Many people look at their tax assessed value and use that to set a value to their home. This doesn’t work too well since the problem is that assessments are based on a number of different criteria which are unrelated to property values. They don’t often reflect the true value of your home. It’s not uncommon for two identical homes in the same neighborhood to have a very different tax assessed value. The reason for that is because one was purchased more recently than the other. Sounds strange but it’s true