• An appraised value is the dollar value assigned to a home or other piece of real estate for property tax purposes.
  • It takes into account comparable home sales, location, and other factors.
  • Estimated value is not the same as fair market value (at which the property can be sold) but is often based on a percentage of it.
  • Some states also tax personal property such as cars and boats and give them an appraisal value as well.