Quote:
Originally Posted by fatlazyless
Was it ever really worth that $1,432,300 in the past few years? Are assessments simply a hypothetical value that only exist in the town's rosie outlook for high property values?
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When assessed value is compared to market value, yes. The town is always behind the times, so in an upswing you are ahead because the assessed value is lower than market, but in a down swing they will just keep the higher assessment until they HAVE to get things up to speed.
I know I would not have paid 1.4 mil for that property and I still would not at 1 mil, so to me, no, it was never worth that price and it still is not.