A government official who is responsible for determining the value of a property for the purpose of taxation.

In states such as California, the assessor is prohibited from reassessing values upward for property tax purposes until 1) there are major improvements performed on the property or 2) the title to the property is transferred.

In California this is commonly known as Prop. 13 protection referring to a voter proposition that was passed in the 1970s making this law.

The assessor and the appraiser can be easily confused. The assessor's sole purpose is to figure out the value of the home for tax purposes. The appraiser's goal is to figure out the value of the home for your loan. Typically, the appraiser's estimate of the home is higher than that of the assessor.

Home  |   Apply Now   | Articles  | Fico Scores/Reports

(c) 2007, Best No Doc Loans, All Rights Reserved | Privacy Policy