Determining Home Market Value

by David Jenyns on March 17, 2008

The best way to determine home market value or market price of a home is to secure independent appraisals on the property-two at least. Appraisal firms are located in the classified section of the telephone directory. In almost every city property tax rates are based on some kind of home market value appraisal. The rate might be $2.00 tax per $100 of assessed valuation.

In many cities there is a property directory indicating specifications on each dwelling-dimensions of the land, appraised value of the land, appraised home market value of the structure, and often revenue stamps in dollars which stamps were affixed at the time the property was last sold. Since the stamps bear a direct relation to the price, from the stamp total the last sales price can be figured, and the year of sale is usually given. For starters, a credit report should be secured on him from the local credit agency in your city or town, and there is one for every town, although its office may be in a nearby city. Dun and Bradstreet can be induced to secure a report by application for such a report to your local banker. Stone’s Mercantile Agency is another reputable credit reporting service located in many cities.

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