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Will a Mortgage Refinance or HELOC Appraisal Raise My Property Taxes?

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If you're considering refinancing your mortgage or applying for a Home Equity Line of Credit (HELOC), your lender will likely need to determine your home's current market value. That raises a common question: Will getting a new estimate of my home’s value affect my property taxes?

In short: No, it won’t. Here’s why.


What Is a Home Appraisal?

An appraisal is simply an estimate of your home’s current market value, which your lender uses to help decide whether to approve your mortgage refinance or HELOC. Sometimes this involves a professional visiting your home, but often lenders rely on market data and trends to make the estimate. However it’s done, the result is only used by your lender and is not shared with your local tax assessor. It will not affect your property taxes.


How Are Property Taxes Calculated?

Your property taxes are based on the assessed value of your home, not what your lender thinks it’s worth.

The assessed value is set by your local tax authority, usually once a year or every few years. They use broad models to estimate home values across entire neighborhoods. Unless you’ve made major renovations that required a building permit, they typically don’t inspect or reevaluate your specific home.

So even if your lender says your home is worth more now, that number isn’t used to calculate your taxes.


When Could Your Property Taxes Go Up?

There are situations when your tax assessment and tax bill might increase, but they don’t have anything to do with a refinance or HELOC:

  • You just bought the home: Some areas use the sale price (which is public) to update the assessed value.
  • You made major improvements: Renovations that need permits, like adding a room or finishing a basement, can trigger a reassessment.
  • Your area is going through a general reassessment: Cities and counties sometimes update values across the board to reflect current market trends.

In each case, the change comes from your local assessor, not your lender.


Ready to Take the Next Step?

If you’re considering tapping into your home’s equity or exploring how a mortgage refinance might help you reach your goals, we’re here to help.

Have questions? Stop by your local branch or schedule an appointment with one of our bankers.

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