Municipal Assessment Does Not Determine Home Appraisal

Municipal assessment does not determine home appraisalWhen putting a house on the market, it’s imperative that the home appraisal be taken into consideration.

However, turning to the municipal assessment isn’t always a good way to figure out the price of a home or condo – this is for many reasons, but it’s mainly because of the vast fluctuations that take place between such evaluations and the ways in which these assessments are performed.

Here are a few reasons why municipal assessment does not determine home appraisal.

What is my municipal assessment based on?

There are myriad factors that come into play when formulating a home evaluation, but the data that is obtained during a municipal assessment is not necessarily a good indication of the current commercial value of the property. While things like the overall size of the lot, the age of the home or condo, the general condition of the structure and its construction, as well as the number of rooms are all things that will be accounted for, these may not be precise determinants that translate into an accurate home appraisal.

How often is my municipal assessment done?

Municipal assessments are only conducted every few years. For example, in the city of Montreal, new assessment rolls are submitted every third year in compliance with the Loi sur la fiscalité municipale and respecting municipal taxation – the 2011 roll came into force on January 1, 2011, and it is the basis for the 2011, 2012, and 2013 tax bills.

However, it should also be noted that the changes that take place in the market can be vast in a three-year period, meaning that a municipal assessment does not determine home appraisal in a very current way. A lot can change in just a few short years.

You can contact your city to see the assessment roll of your respective region (in Montreal, the entire of the assessment roll is available for consultation at the town hall of the property’s municipality, at its borough office, at its Accès Montreal office, or at the regional offices of the DEFVM).

Then how do I determine my home appraisal or worth?

You go to a trusted source – DuProprio offers its customers a wide range of effective resources to help homeowners establish the value of their property easily and accurately. There are several online interactive tools along with the trusted services of approved appraisers.

Our experts know that in order to decipher what a property is really worth, it’s necessary to look at a range of comparables (what similar properties have recently sold for in your neighborhood) – our chartered appraisers also consult comparables to determine the market value of properties. Let us team you up with one of our professional appraisers so that you can obtain a report and really validate your selling price. It’s a great way to feel reassured with your home appraisal and enter into negotiations with a major dose of confidence.

If you’re ready to find the home of your dreams, visit DuProprio.com today.

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