Quote:
Originally Posted by Outdoorsman
You do understand how property value is assessed... right?  |
Ahh - wild guess? My property was assessed by the town at 68.9% of the market value as determined by my bank...and no....that doesn't mean I overpaid for my home. The bank does a far more thorough job of comparing like properties, after all, they are on the hook if the owner stops paying and defaults on the loan. They're not going to write a mortgage for $500k when the property is only worth $300k. The town can change valuations MUCH easier than they do the tax rate - which is a very public decision.