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Why do houses that are similar but located in different neighborhoods have different assessments?

Answer #354 -- ( Published 10/12/2005 10:55 AM | Updated 07/12/2017 10:40 AM )

Why do houses that are similar but located in different neighborhoods have different assessments?

Market values vary from one neighborhood to another. Location plays an important role in the determining market value. Location factors like proximity to schools and commercial areas, quality and condition of surrounding properties, and neighborhood amenities affect what a purchaser is willing to pay for a property. Assessors use market data when they determine property values.

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