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An Assessed Value is a value determined by the local government and is used to establish property tax payments.
An Appraised Value of a property is a valuation conducted by a certified independent professional who visits a property and compares it to similar recently sold houses in the area.
Assessed value and appraised value will usually not be exactly the same on a property as the appraised value takes a snapshot in time and will be impacted by market activity.
