Quote:
Originally Posted by JCMSr
Typically most municipalities will use the new sales price as the assessed value.
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No. My assessed value is more than $50,000 LESS than purchase price two years ago. (When exemptions are factored in, the “taxable value” is another $50k off.)
That said, I’m convinced there is no cut-and-dried formula. I’d suggest a phone call to the county’s property Assessor’s office.