Probably not- it is not an appraisal of the fair market value of the home. It is the taxing authority's appraisal, and even the judges are victims of the counties. However, if no other evidence is produced, that my be relied on by the Court, but how much weight the Court gives it is debatable.
The Appraisal value of the Tax Assessor is often too low, except now when most property values have been deflated, these estimates are not really to accurate.
My name is Stephen R. Cohen and I have practiced over 39 years and can be reached at 213-819-1171. I in Los Angeles and Orange County, California. I give only appointments over the phone., these services do not create an attorney client relationship. My answers may offend as I do not believe in pulling punches or sugar coating the truth, I use common sense as well as the law. Other state's laws may differ and I would appreciate it if you feel like marking my answers helpful or best. There are a lot of really good attorneys on this site.
I am not sure of what rule of using the value as of separation you are referring to. The actual rule is that assets are divided based upon the value as of date of trial.
So, yes, the court may very well order another appraisal.
And I agree with Mr. Musgrove. Tax assessments are not really useful information, since the value that matters is fair market value and not the taxable value. (Don't forget that Proposition 13 caps the annual assessment increases.)
Legal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of California. Responses are based solely on California law unless stated otherwise.
By and large the tax assessor valuation of your property more times than not is inaccurate. Also, because of Prop 13 limitations, there are artificial barriers put on the County increasing the value each year to the real fair market value. By and large the court is going to take little if any notice of the County assessor’s records. A certified appraisal is the way to go.
If you have found this information helpful, please let the attorney know by marking best answer. Thank you. This participating Attorney does not warrant any information provided, nor are we creating an Attorney-Client relationship by providing said information to you on this site. Nothing contained herein is intended to constitute, offer, induce, promise, or contract of any kind. The content provided is presented as a courtesy to be used only for informational purposes and is not represented to be error free. The Law Offices of John N. Kitta makes no representations or warranties of any kind with respect to its answer to inquiries, and such representations and warranties are being expressly disclaimed. Given limited facts, we are attempting to share relevant information concerning this area of the law as a public service.
Property is valued at the time of trial, unless otherwise agreed by the parties. Business valuation has special rules due to its ongoing nature and post separation efforts by a party. Each party is entitled to obtain such an appraisal, or comparative market analysis as will help them support their position, at trial as to the current market value of the property. County assessments are usually too low and will rarely be used to support current market value. Both parties are entitled to the any increase in value of the jointly owned property, to the date of trial. The court can order a new appraisal, but more often will allow each party to acquire one of their own. At times, attorneys will agree to a joint appraiser.
The comments made here are meant to direct you to receive local consultation from an attorney in your area and ask proper, detailed questions to get the best legal advice upon which you can take appropriate action.