2016 Property Assessments vs. Market Value
SHORT VERSION:Do not rely on your provincial assessment for a fair market value of your property.
The value printed on that document was arrived at during a time in the previous year, the market may have changed a bit since then, and not in the direction you might think.
Do not rely entirely on the buyer’s opinion or the seller’s opinion in an unlisted private transaction for a fair market value.
Do not rely entirely on your neighbors, friends, or family members opinions for a fair market value of a property.
Do consider ordering a marketing appraisal, but do not rely on it 100%… maybe 98% though.
Do consider an evaluation by an experienced, active, local Realtor or two. This in combination with a marketing appraisal is the best indicator of current fair market value.
Gather professional opinions from Realtor(s) and an Appraiser – these are the people with their feet on the ground and their heads in the game.