Last updated on February 21st, 2023 at 11:30 pm
A property tax roll sometimes called an assessment roll, is a record of all the properties subject to taxes in a given area. These lists include detailed information about properties and associated taxes, including land and vehicles in some states. To better understand the relationship between tax rolls and real estate, here’s the basic info to know:
What information is included in a tax roll?
A real estate property tax roll is a record of all properties subject to taxes in a particular jurisdiction. The rolls can be broken down by city, county, state, and national levels for tracking and data-management purposes. Each property on a tax roll has important details, including:
- owner
- location
- property classification
- value
- valuation date
- appraiser
- taxable status
- tax owed
Why property tax rolls matter
Property tax rolls are important in real estate for a few reasons. One reason is they provide reliable documentation about a specific property’s assessed value and how it might have changed over time. They can also show records of prior tax issues like liens or delinquency potential homeowners might want to be aware of.
Tax rolls can also help both borrowers and lenders confirm the assessed value of a property for determining loan approval and interest rates. Having a standardized source of official facts about specific properties can help in all steps of important financial decisions.
What if my deed is not recorded?
Deeds that are not recorded are not considered valid. Some people issue quit claim deeds for their property to make a quick sale or to transfer between entities. On occasion, the deeds are created by non-attorneys and they lay on the shelf un-recorded.
Someone issues a lawsuit against the property, and by that time it’s too late to convey the property legally. Just because you had a signed deed, it is not valid in a court unless it was recorded. And, the first deed to get recorded wins.
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