this is where this is where it gets a little squirrely Gold Coast Land Valuation okay some states are non disclosure states like Texas whereby they are not required to disclose the sales price on the deed that gets recorded in other areas it is disclosure so they will show it so states like Tennessee
is the disclosure state so they always have a line on the deed where you’re supposed to put in the sales price okay but there’s more of that and I’ll come back in a second there is other states that are called a strict non-disclosure states like New Mexico where there is no way it’s required that there is no sales price on the deed there you go so certain states reveal sales prices at the recorders office level and some don’t and that can be a huge huge hornet’s nest and we’ll get
more into that in just a second okay so that’s the recorders office the second is the tax assessor’s office now the tax assessor their job is to figure out the the relative value of each property in their County so they can tax it and they can tax it as a percentage of the value as long as what type it is as well say if it’s a duplex which could be considered commercial versus a single-family home that sort of thing so Tax Assessors are literally putting a tax appraisal on every property every single one so some look at that and say oh the tax appraisal that must be a good source of value and no let me tell you what happens to tax our prey the first thing is most homeowners are not willing
to share every bit of news with Tax Assessors in other words if they add square feet in the form of an extra bedroom and bathroom they may conveniently not tell the tax assessor why so they can keep their tax assessment lower so they can pay less taxes also in certain states there are homesteads or other kinds of policies which as you own the property you can elect that the tax appraisal
can only go by up by a certain amount each year as a maximum and what happens is over the course of many years that tax appraisal can lag way behind the real value that makes sense so tax appraisals can be way off and then also the tax assessor is supposed