A realtor told me once that sometimes the assessed values are close to market and other times they are nowhere near market value. In our case its fairly close but a bit on the low side. Personally I wish it was lower - we have no plans to sell so no need to try to determine current value, and the lower the value the more we can save every year.
Some of the new infills near downtown must have pretty high assessed values, Ive seen some on the market lately for $800k and up
Either way - best of luck in the process and please do post results
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