House value

[cmw]

Who declares the value of my house for bankruptcy purposes? I am planning on keeping my house but I am wondering if they will want me to have it appraised or can I just list the approximate value?

Thanks!

[HHM]

Give a "good faith" approximate value. But depending on the area of the country, the trustee may get an appraisal, but you provide the first estimate when you complete your petition and schedules.

[waziggy]

Around here I'd use a county property tax statement. See the taxing authorities know they can increase the multiple rate without increasing the appraisal value and get increased revenue (taxes). Kind of like gasoline now; the same gallon cost more.
From the states I've lived in all have had lower appraisals than an actual real estate appraisal. Here's the kicker one government authority will always recognize another government authorities taxing value. Kind of why when I donate a used car I use the property tax value not the blue book value in that case. That $2,000 car per the blue book or used car dealer is appraised by your local county property tax agent at $6,000 and that's what I've used three times and when the IRS audited me I just showed them the last county property tax bill as the value; our state your auto property tax comes 30 days after you pay your annual registration fee and your new license sticker comes after you pay the tax. Oh, the IRS auditor told me they recognize and accept all state, county, and city property tax values; quid pro quo taxing agency to taxing agency.