Most loans are secured by a piece of property. This would be property you pledged as collateral when you took out the loan. Your lender would have a lien on this property until the loan is paid in full, and if you defaulted on payments, they would take possession of it. If the loan is secured by the property it's used to buy, build, or improve, you'll be able to deduct the interest. The question is asked to ensure you can take the mortgage interest deduction.
The last time the property was secured is usually when the original mortgage is taken out or when a refinance is done. Your refinance value is probably the most recent you have available.
It is okay to use that value if there has not been a significant change to the value since then.
See the original post, points 4 and 6 from @MichaelDC
'''4.Check the property's most recent tax bill. It will list not only the tax owed on the property but also the property's current assessed value. The value listed is based on the most recent assessment of the property, which may have occurred five or more years ago. Assessments are based on fair market appraisals of the property. Since housing markets fluctuate, the assessed value listed might not truly reflect the value of the property, since its fair market value may have gone up or down since its last appraisal.
5.Determine your local county's property assessment rate. This will be listed on your tax bill.
6.Request a reassessment of the property from the county assessor's office, if the fair market value of your home has changed significantly since its last appraisal.'''
If the value has not changed much since 2006, the amount on your tax bill (the most recently assessed value) is okay to use. @malena81
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