Originally Posted By: Dogfish
Tax assessed value (TAV) and market value are two entirely different animals. At one time we (my small bank) were allowed to rely upon TAV as a proper valuation when using real estate for loans. The valuations we have received from actual third party appraisals show that the values determined by the county are way off. In Grays Harbor County, most TAV's have been higher than the market value.



Dogfish is spot on here. Your assessor uses computer models and while they also review recent sales, they don't try to match apples to apples. They don't have to so they don't. Furthermore, it isn't in their best interest to drop their value determinations because it takes dollars out of the county coffers.