Why do tax appraisers not appraise a property based off of its real-world valuation at the time of appraisal? Why is there such a huge disparity between tax appraisers and real-estate appraisers for sale?
In: 43
Realistically? Because they want to be able to “justfiy” giving people lower prices for various reasons.
The real reasons are the appraiser doesn’t like the area, neighborhood, the person with the house or the Bank just doesn’t want that property to be valuable (or DOES want it to be valuable) It’s a large set of regulations that protect the higher powers from giving one person an appraisal of $100,000 on their house and their neighbor, with a similar house $350,000.
If you have Netflix, there’s a show on there called “The G Word” that explains it all. or you could read how one man got a much higher appraisal on his house by having his white friend pretend to be the homeowner.
[https://www.cnn.com/2021/12/09/business/black-homeowners-appraisal-discrimination-lawsuit/index.html](https://www.cnn.com/2021/12/09/business/black-homeowners-appraisal-discrimination-lawsuit/index.html)
[https://abcnews.go.com/US/couples-lawsuit-alleges-appraisal-firm-undervalued-home-based/story?id=88700992](https://abcnews.go.com/US/couples-lawsuit-alleges-appraisal-firm-undervalued-home-based/story?id=88700992)
TL;DR: It’s about keeping the poor people in line.
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