In my state/county, the appraisal you get for selling/buying and the appraisal that is done for taxation purposes are not the same thing.
The county does taxation assessments separately, without any input from the homeowner, and only at certain intervals (5 years I think). They also tend to be lower than the market value, at least in the post-2008 market.
I think it tends to be lower in part to give homeowners a break and in part because they can't assess the quality of the structure, only the land area. So if you've done interior improvements, it obviously won't be captured in the value.
In my state/county, the appraisal you get for selling/buying and the appraisal that is done for taxation purposes are not the same thing.
The county does taxation assessments separately, without any input from the homeowner, and only at certain intervals (5 years I think). They also tend to be lower than the market value, at least in the post-2008 market.
I think it tends to be lower in part to give homeowners a break and in part because they can't assess the quality of the structure, only the land area. So if you've done interior improvements, it obviously won't be captured in the value.