Why Your Home’s Assessed Value Is NOT Its Market Value

Dated: September 20 2026

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One of the most common questions I hear from homeowners is:

“If the county says my home is worth this much, isn’t that what I should sell it for?”

Not necessarily.

Your assessed value, appraised value, and market value are three different things, and understanding the difference can be very important when you’re thinking about selling your home.

Assessed Value

Your home’s assessed value is primarily used by your local government for property tax purposes. Depending on the jurisdiction, assessments may be updated on a particular schedule and may not reflect what buyers would be willing to pay for your home today.

It is a tax-related valuation—not necessarily a prediction of your selling price.

Appraised Value

An appraisal is typically performed by a licensed or certified appraiser. When a buyer is financing a home, the lender will often require an appraisal to help determine whether the property provides adequate collateral for the loan.

The appraiser considers factors such as:

  • Recent comparable sales
  • Location
  • Square footage
  • Condition
  • Improvements and amenities
  • Market conditions

An appraisal is an independent opinion of value as of a particular date.

Market Value

Market value is essentially what a willing and informed buyer is prepared to pay and a willing seller is prepared to accept under normal market conditions.

And this is where things get interesting.

Two homes with similar tax assessments can sell for very different prices because buyers may place different values on renovations, views, lot size, location, condition, layout, garages, outdoor living areas, and dozens of other features.

So How Do You Know What Your Home Is Worth?

A real estate professional can prepare a Comparative Market Analysis (CMA) using recent sales, competing listings, current market conditions, and the specific characteristics of your property.

Online estimates and tax records can be useful reference points, but they don’t walk through your home, see your improvements, understand your specific neighborhood, or know how today’s buyers are responding to properties like yours.

If you’re considering selling, start with the market—not simply the number on your tax record.

Thinking about selling and wondering what your home could realistically bring in today’s market? Let’s talk.

MARLENE BERNASCONI
Principal Broker | Instructor
Residential | Commercial | Relocation
Weichert Realtors, Saxon Clark – Johnson City, TN
Johnson City Chamber Ambassador
📱 423-444-4360 Cell (Preferred)
📞 423-342-3600 Office
📧 RealEstateByMarleneB@gmail.com
🌐 RealEstateByMarlene.com

Experience • Integrity • Results

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Marlene Bernasconi

With more than 27+ years of real estate expertise and a proven leadership track record across multiple markets, Marlene Bernasconi stands as a trusted force in East Tennessee real estate. As Principal....

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