Aren’t market value and assessed value two different things?
I know the market value of my home is much more than the assessed value which is what my taxes are levied on.
“Aren’t market value and assessed value two different things?”
Yes, it would take more research to know the truth. Assessed values typically trail actual values by 2-3 years. Your tax assessment continues upward for a year or two when the market turns down, and taxes keep going down early in a new upswing in prices.
yes- they are. But the fact his home the home he lived in was assessed almost 40% less than its value is unheard of in this area.