REFI: Does My Refinance Appraisal Affect My Property Value?


[MUSIC]>>If I refi,
do I have to get a new appraisal?>>Yes.>>And if I do that, does it increase my property taxes if
it’s higher than the original one?>>No, because if you’re refinancing, there’s no new record with
the county of a change of ownership. So most tax assessments are based upon a change in value that’s
recorded in the county. If you are refinancing and
the same person’s name is on title, then there’s no reason to record
new ownership with the county with a new property value because
there has been no property exchanging hands where a new value
would be reported to the county. So the county is going to make your tax
assessment based on whatever’s on record. And when you do a refinance to
the same person who was on title, there’s no new recording.>>[MUSIC]

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