Here’s the difference between the separate values for your home.

We often receive questions about tax values, market values, appraisal values, and more. So today we’re discussing the differences between these values:

Tax appraisal value: This is the one where the county will tell you your house is worth X amount and they’re going to tax you on it. That’s how they make money for the county.

Appraised value: This is what a bank will lend you money on; if you’re getting a loan on a house, this is how much the bank thinks the house is worth. 

“Zestimates are highly inaccurate in Texas.”

Market value: This is what real estate agents research, pull comparables for, and what we use to fight the appraisal should it come in low when selling your house.

Zillow Zestimate: If you believe in fairies and dragons, this is Zillow’s made-up number. Many people like to use it, but we don’t know how they come up with this number. It’s not related to market value, appraised value, or tax value. Zestimates are highly inaccurate in Texas, so don’t depend on them for accuracy.

If you’re ever considering fighting your taxes, reach out to us, and we’ll walk you through that process. If you have any questions about these terms or real estate in general, call or email us. We would love to help you.