Home Sale Prices Proving Higher than Assessed Values

How are Scarsdale home sale prices measuring up to assessed values in the 2016 revaluation? The most current data shows that sale prices are exceeding the new assessed values by significant amounts.

For the 13 most recent sales, sale prices are on average, 16.5% higher than assessed values for homes ranging in price from $857,500 to $3,875,000. A similar analysis published on July 6 also showed that sales prices have been outpacing assessed values.

Though critics have voiced concerns about the 2016 revaluation, arguing that homes on the low end are being overtaxed to compensate for reductions on the high end, this small sample of sales data does not support that assertion.

On the other hand, what the data may show is that the overall assessment for all Scarsdale real estate may be lower than true market value.

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