Link to the Show / Show Notes"My assessment (cukai pintu) says my house is worth RM300,000, please sell my house at the value indicated by government valuers."
Yes, we still receive numerous selling instructions with the abovementioned manner and I was always puzzled by this type of instruction. My answer isNOdue to the following two (2) major reasons:
(1) Purpose of valuation
The purpose of valuation when the local government valuers did the valuation is for the purpose ofassessment, not for the purpose ofsale negotiation. The basis of valuation is therefore varies.
(2) Date of valuation
Our local governments do not update the assessment value every year, they usually update it every5 to 10 years' time. In the case of Johor, some of our assessment values were actually valued over 10 years ago. Yes, believe it or not, the assessment value you have just shown to me is already 10 years' old!
Therefore, please stop going to estate agents and tell them your property is actually worth higher than the current market value simply because your Assessment (Cukai Pintu) says so.One interesting observation here however, they never show you their assessment when the indicated value is lower than the current market value,due to the reason best known to them.
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