Appraisal Definition: How Your Home Value is Determined and Why
HomeLight
NOVEMBER 9, 2021
An appraisal is the process of determining what something is worth, getting an official value on a big ticket item — whether that item is your engagement ring, your late grandfather’s Black Forest cuckoo clock, or your beloved home. Charitable contributions of property over $5,000 require a qualified appraisal for tax deduction purposes.
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