Odds are, the list price will be higher, or the agent's opinion of your home’s market value will be higher than what the county's tax assessed value.
In Hennepin County, unfortunately, I've seen circumstances on my own properties where the tax assessed value is higher than what the potential value of the property is, especially on these older, worn out, beat up houses that I'm buying to rehab and fix up and sell.
They're valuing the property at more than what I paid for the property. That doesn't make any sense.
You can debate the valuation with the county, but I will tell you it is not a fun experience.
If you go to Dakota County and your property's assessed value is $650,000 but your agent thinks she can sell your home for $725,000, just know the agent probably isn't crazy if they know what they're doing. You want to see your assessed value lagging behind your current market value.
Why?
Number one, because you don't want to pay a tax on a current market value and the county shouldn't project future value. The county should be basing value on past sales. Real estate agent’s predict current value. Trust your agent. Trust the market.
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