Are condos a good investment?
Before you begin your search, be sure to have clear goals and run the numbers.

Assessment is a money term you need to understand. Here’s what it means.
An assessment establishes the value of an asset, such as a home or a vehicle, for taxation purposes. In some cases, an assessment is calculated to determine risk or the quality of a company’s asset management.
The types of assessments include:
Property tax assessments are a reality for almost all homeowners, as they must pay property taxes even after paying off their mortgages. Every municipality, county and state has its own rules for calculating property taxes.
In general, if an individual buys a house valued at $200,000, and the assessed value increases to $210,000 the following year, this increase in assessment means the owner will pay higher property taxes. If the effective property tax rate is 2 percent both years, the owner would pay $4,200 in property taxes after the increase, as opposed to $4,000 in the year before the assessment increase.