Quote:
Originally Posted by jeffk
I thought that assessments were supposed to approximate real selling prices.
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We are in discussion with Vision over the assessment of our newly built house. They used the estimated price we put on the building permit, which was fairly accurate but higher than comparable houses in the neighborhood are selling for. The term Vision uses is "
replacement cost less depreciation" rather than current real-estate value. The cost of building materials and labor may be a bit less than 2-3 years ago, but are only indirectly connected to real selling prices.