Sqft & Tax Records

Written by John on May 21st, 2009. Filed under Uncategorized and .

Appraiser, Owner, Tax Records or Agent? An agent should never measure a house, especially one you are listing. I showed one of my listings the other day and client couldn’t get past the tax records. He assumed that because the tax records for the city stated the house was 2000 sqft, then it had to be true. I explained to him that tax records often do not reflect the correct info, including sqft. This house happened to have a low sqft and tax assessment and a small addition on the back of the house. Tax records are typically a drive by process and looking at the exterior of the property, assessors rarely go inside. Assuming the sellers pulled permits for additions, then sqft might be adjusted, but don’t count on it? As an owner, should you call the City if you feel your tax records are too low? Does it effect the resale of  your property? It shouldn’t, but this day and age everyone is online and looking up stuff. So, they assume the realtor is selling the house bigger for more money. Tax records are all over the place and should only be a reference when looking at properties and certainly not a source of value. Some areas do run close to assessment, but others are so far off its no wonder the city is having budget troubles? The best source for a seller is to find an older appraisal or have a local appraiser measure the house ($75). Measuring seems easy enough, but it can be costly if you’re are wrong. If the house is off and you purchase it, make sure you request a copy of the appraisal from your lender prior to closing. You paid for it, so why not get a copy? This can assure you of the advertised sqft and the actual measurement. If the property is off by 100 sqft, then appraisers can make adjustments? Most newer homes are pretty close in the tax records, but be aware when you see an addition or with an older home.