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(USA) Why are home assessed values not the same as market values? (lemmy.dbzer0.com)

submitted 3 weeks ago by bonsai@lemmy.dbzer0.com to c/finance@beehaw.org

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I tried looking this up but didn't find a satisfying answer. When a home is assessed for its taxable value, why isn't the market value just used?

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[–] Double_A@discuss.tchncs.de 1 points 1 week ago* (last edited 1 week ago)

Because there isn't any real market value because you are not constantly selling your house. Also does the tax estimate diverge that much from reasonable price?