Real Estate - The Difference Between Assessment and Appraisal

  <p> To the non-professional person the concepts of assessment values and appraisal values are one and the same. However there are distinct and important differences between the two. The term "assessment" is defined as the value of a property that is determined by a government assessor. Typically this assessor comes from a city or town office. At the time of the assessment the population of a whole city will have their property assessed over a four to twelve month period of time. The resulting information that is gathered will be used to figure out what the tax value of these properties will be. </p><p>