Instructions 8829 Part III

Hello TT Community.

For the following section of Form 8829, I read in another post that in order to determine what the values of lines 37 & 38 are, I should go to my property tax assessment made by the County.

Screenshot_2-2-2025_133026_www.irs.gov.jpeg
Are "cost or other basis / fair market value" synonymous with "assessed value" as shown below?
Note the example values below are not market values of the home.  The original purchase price of the home was almost double the assessed total value.
 

Screenshot_2-2-2025_133839_propertylookup.dupagecounty.gov.jpeg

 

So, if the home business out of the home started in 2021, is it correct to say in this example, I would enter "Total AV = $125,950" for line 37 and "Land AV = $55,220" for line 38

 

Thanks!