NYC market value vs assessed value vs sale price
Market value is the Department of Finance's estimate used to set taxes. Assessed value is a share of that, capped by tax class. A sale price is what a buyer actually paid. None of them is an appraisal.
Reviewed
| Value | Who sets it | Use it for |
|---|---|---|
| Market value | Department of Finance, each tax year | A rough sense of scale; not a sale estimate |
| Assessed value | Department of Finance, by tax class | Working out the tax bill |
| Sale price | Recorded deed | What a buyer paid on that date |
Tax-class rules mean market value for small homes and co-ops can sit far below what they sell for. Compare recent sales of similar buildings nearby before relying on any figure.