<p>Here’s what I did this past year – I went with the Federal Housing Index calculation and added an end note stating that was my source. </p>
<p>I don’t see how anyone can get “in trouble” by using a reasonable source and explaining it. If the college doesn’t like it, they can ask for supplemental information. </p>
<p>So I would say: go with the lowest reasonable valuation, and if you feel uncertain, explain where or why you got it. For example, if you have a lower recent appraisal or you are factoring in issues like major repairs needed to your home to arrive at a lower value – simply say so.</p>