If assessed at $24M but he can't get $19M then yes, it is over assessed.
Assessed should be what it is worth now, not what it was worth 4 years ago, not what it is worth 10 years from now, what it is worth now.
The fact that the town gets over $300K (or any value from $1 to $300k) from someone who has minimal services provided by the town and no kids in school is another whole sin of a bad tax system. For another time. That and taxing farmers for what the property 'could be worth if we put 30 condo's on it, is another sin.
|