Considering appraisals in analyzing deals

[John Liebau]

I was wondering about how to analyze a property’s value when it comes to appraisals or how I should be using appraisals as info. What’s the difference between a tax appraisal and (I’m not sure what to call it) a market appraisal? For instance a duplex I bought to house hack appraised at 192,000 and the county appraisal was around 145,000. Does the county appraisal being lower give me some bargaining power? The reason I’m asking is because I’m talking about doing a partnership with a co worker and he seems awfully concerned about what the county appraised a property at, yet I hadn’t put too much thought into it when I bought my house hack. Any comments appreciated. Thanks.