The estimated value is based on third party data. If you click on the dropdown menu, you'll be able to see all the data points we have collected for the property, typically in two groups:
Estimated values, coming from third party providers is based on algorithms that determine the market value of the property using comparable prices in the area, adjusted on the size of the property. Whenever possible, we also provide a confidence score, that represents how confident the third party is about the estimated value, linked to the availability of data points used to calculate the value.
Assessed values, coming directly from the county tax assessor lists the value of the properties at its latest assessment at the county. This is often split in land value, improvements value and total value of the parcel.
It's common to see estimated values diverge significantly from assessed values, since assessor data usually doesn't keep into consideration real market data, but it's often just based on the last sale price that might have occurred long time ago (or closed way below market price).
As for the main estimated value, we use the highest value reported across our data source, since that is usually the closest to the actual market value.
