Investors use appraisals to determine the amount of appreciation that a property has realized. This can be a factor in weighing the profits received on an investment. Taxation is another reason to get an appraisal and an update to the value of the property is critical. Using the value of the local municipality or tax assessor might be a costly mistake. Lowering taxes on an investment property can be one way to build your real estate wealth. When preparing the property for sale, it is always best to have a recent appraisal.