<p>A reasonable, but somewhat tedious way to estimate the value of your house is to use the tax assessors valuation. Go get a list of the last seven or eight houses that have sold in your neighborhood, and compare the sales price to their tax assessment. Depending on what state you’re in, how long its been since the last reassessment, and a few other factors, you’ll get some idea of the ratio of current market value to assessment. Use that to calculate yours.</p>
<p>Be sure to use homes in your neighborhood, and near the same size, etc. In most economically diverse towns, the assessors play robin hood and underassess the smaller, older homes/neighborhoods, and shift more of the property tax burden to the higher income taxpayers.</p>