assessed value vs. appraised value

[JLP]

Does anyone know the difference between an assessed value that the municipality provides versus the appraised value provided by the bank?  Which is typically more accurate?

JLP

[BuyerBeware]

 Hey there,

Unless i'm mistaken the appraised value is what the bank could get out of it, if (god forbid) you owed them money and what they could recoupe.
Whereas assessed is by local municpality for how much they think its worth for the amount of TAX money they can get out of you.

Hope this helps,

As always Buyer Beware