Assessed value is the number your county uses to calculate property taxes. Market value is what a willing buyer would actually pay for the land today. The two are set by different people for different reasons, so they rarely match — and for vacant land they can be far apart in either direction.
What assessed value is
Every year or so, the county assessor puts a value on each parcel so it can split the tax bill fairly. Assessors value thousands of parcels at once using mass formulas, not by walking each lot. Many states then apply an assessment ratio — taxing only a percentage of the value — or cap how fast it can rise. The result is a tax figure, not a price tag.
What market value is
Market value is what the land would sell for right now between a willing buyer and a willing seller. It's set by recent sales of similar parcels nearby, plus the things buyers care about: road access, drive time to town, zoning, utilities, terrain, and views. An appraiser or an experienced land buyer estimates it by comparing real sales.
Why the two numbers differ
Timing — assessments can lag the market by a year or more.
Formulas — assessors can't see access problems, washes, or steep slopes that lower a parcel's real value.
Ratios and caps — some states tax only part of the value or limit yearly increases, which keeps assessed value low on purpose.
Few sales — rural land sells rarely, so the county has less data to work from.
Which number to use, and when
Paying property taxes — assessed value. It's what your bill is based on.
Selling your land — market value. Don't price from your tax bill; price from recent nearby sales.
Buying land — market value. A price well above or below assessed value isn't automatically good or bad.
Disputing your tax bill — if the assessed value looks too high, most counties let you appeal within a set window each year.
How to look up your parcel's assessed value
Search your county assessor's website by parcel number (APN) or owner name. The record usually shows the assessed or "full cash" value, the land's acreage, and the current tax amount. Each state uses its own terms, so check your county's definitions before comparing numbers.
Frequently asked questions
Is assessed value the same as what my land is worth?
No. Assessed value is a tax figure set by formula. What your land is worth is its market value — what a buyer would pay based on recent sales of similar parcels.
Why is my assessed value lower than market value?
Often because of assessment ratios, yearly caps, or values that haven't caught up with recent sales. It can also be higher than market value if the parcel has access or terrain problems the county hasn't accounted for.
Should I sell my land for its assessed value?
Not as a rule. Base your price on what similar nearby parcels have actually sold for. Your tax bill is a starting reference, not a price.
Can I lower my assessed value?
Most counties allow an appeal each year. You'll usually need evidence — recent comparable sales or proof of access or terrain issues — and must file within the county's deadline.
Curious what your land would sell for?
Send us your APN and we'll research recent sales and make you a no-obligation cash offer. Call or text 877-876-1746.