Tax assessed value in Prior Lake
The general public still seems to have some confusion when I have to explain to them that the tax assessed value of their home does not signify actual market value. Sometimes it is close, but rarely can you rely on it to give you a good value for your home should you decide to sell it. I don't want to go into detail as to "why" the values are different as it could be for a number of reasons. I'd rather just show you the numbers from the last week to show you that they are not indicative of each other.
Prior Lake has had 9 homes sell in the last week. Here is a look at the sales price and tax value.
| Tax Value | Sale Price | % change |
| $169,300 | $140,500 | -17% |
| $213,700 | $160,375 | -25% |
| $201,500 | $172,700 | -15% |
| $235,500 | $215,000 | -9% |
| $206,000 | $219,000 | 6% |
| $225,000 | $250,000 | 11% |
| $428,000 | $350,000 | -18% |
| $496,300 | $390,000 | -21% |
| $614,400 | $535,000 | -13% |
So as you can see you really can't rely on your tax assessed value to come up with an accurate idea of what your home will sell for in Prior Lake.