What is a Property Assessment?
A document that is provided by MPAC (Municipal Property Assessment Corporation) to a homeowner to overview the value of a home as it is determined or assessed by MPAC. This is for the purposes of calculating property taxes.
Lenders will require this as part of your home purchase. Costs usually range from $300-500 depending on the lender.
Property Assessment Example
You can view an example of a property assessment on the MPAC website.