The assessed value of a home is a valuation determined by a local government, typically by a tax assessor, for property tax calculations. It's based on factors like the property’s size, location ...

In the case of real property, the question is whether a homeowner or homebuyer can rely on the assessed value to accurately determine the property’s true market value. The answer is probably not.

County officials determine property taxes by assessing the value of homes using what critics call an outdated calculation that doesn’t reflect the current real estate market. That forces homeowners to ...