What is the difference between the assessed value and the actual value?

The assessed value of a property in Florida is the amount the state determines that the property is worth for tax purposes. The state calculates this value based off of the current market value, as well as a variety of factors such as condition, location, age, size, features, etc. This value is generally lower than the actual market value, and is usually updated on an annual basis. The actual value of a property is the amount that it would sell for in the current market. This value is set by the local market and can vary from the assessed value given by the state. Since the actual value is determined by the demand of buyers, it could potentially be higher or lower than the assessed value set by the state. In summary, the assessed value of a property in Florida is determined by the state and is based on its current market value and various other factors. The actual value of the property is determined by the current local market and could be higher or lower than the assessed value.

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What is the difference between the assessed value and the actual value?

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