I refinanced my first house many years ago. They asked me what it was worth. I gave them the assessed value. They sent an assessor and actually increased the value. I just let the finance guys do the finance stuff. If it looks and feels reasonable, I go with it.
what will REALLY be interesting is when the “new” valuation of Mara lago for tax purposes is challenged by the county tax assessor. that will be a popcorn worthy event.
I am looking at my 2023 statement from my county’s assessor office. My 1800 sq ft house and 4 1/2 acres of land are ‘officially assessed’ at $19,280. I paid $68,000 for it in 1975 and Zillow now estimates I could sell it for $225,000. So according to the NY judge, my house is only worth less than $20,000 and should I take out a loan based on its real market value, I’m committing a serious crime.