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Assessed As A 2 Family But Is A 1 Family

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NJ Valuator

Member
Joined
Feb 23, 2003
Professional Status
Certified Residential Appraiser
State
New Jersey
Subject's current and highest and best use is a single family. It is in a single family zone. However, it is being assessed as a 2 family. Zoning states that since the property is in a single family zone no approval is needed to convert back to a 1 family. Any issues appraising as a single family if it is assessed otherwise?
 

Tom4value

Senior Member
Joined
Dec 4, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
I get that a lot. Appraise as a single and note in the report.
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
No Assessor screwed up and likes the higher tax assessment - Until some owner complains it will never change.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Is it used as duplex? Then value it as what it is.
 

The Warrior Monk

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
Assessor's use codes are there for tax purposes, not determining the legal use of the property.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Subject's current and highest and best use is a single family. It is in a single family zone. However, it is being assessed as a 2 family. Zoning states that since the property is in a single family zone no approval is needed to convert back to a 1 family. Any issues appraising as a single family if it is assessed otherwise?

Building & Zoning department records report it's legal, transferable use as ________________?
 
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