Assessed for $490,600, sold for $128,500

[lawn psycho]

Originally Posted by Billy Bob

I have been in Real Estate for 40 years and what the assessor said is just not true. If you completed an arms legnth transaction then the purchase price IS the value of the property. You just established what the property will sell for on the open market.

I have no doubt in my mind the assessment is high, however the time and effort to get an abatement now won't mean much if they jack it up again when the house gets built. I'm going to wage the battle once the assessment begins with the completed house and lot.

I fully expect to have to use one of the abatement services since the assessor seems to have rose colored glasses when it comes to value. I'd say the Town but this was way too recent and who knows if they read this site.