Why is the assessed value different than what my realtor says my home is worth?

Assessed value and market value are not the same and it is not uncommon for homes to sell at prices significantly below or above assessed value.  The assessed value of a home is used for the purpose of taxes and has little to no impact on how much your home is worth to a potential buyer in the open market. The true market value for your home takes into account many factors outside the purview of a home assessment – including recent market activity and local competitive inventory.