Our assessment came in based on "replacement cost" rather than market value. I assume this is because it was new construction. However, a another new construction house on the street, with 50% more square feet and one more bedroom, came in much lower. There was also a sale one street over at 85% of asking price, and that is now its valuation. I appealed to Vision Events and got a very token reduction, but am still 10% above the most conservative (although biased) estimate I can come up with. The term replacement cost was a new one for me. The process for additional appeal is vague at best.
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