Just got the results of my county wide, mandated reassessment. All numbers were full market value, with total value listed at $190K. We had bought the place six months previous, in a hot market, at $238K, which is quite defensible given comparables and current sq. ft. prices on resales. Neighbors are reporting very accurate, to inflated and appealable figures. My only guess is that the assessors decided to dock for the fact that it's a 2/1, which is great, given that it means nothing in this market, where small homes that fit downsizing retirees sell in days. I'm happy. OTOH, in the area we moved from, the economy is still declining, post recession, and a friend just bought a renovated REO McMansion for $175K. It is in like new condition and 3400 sq. ft. The taxes are $8K based on the pre-collapse value of $370K. As you might imagine, they have hired a law firm that specializes in beating back the wild overvaluations in that market. Hopefully they succeed, since they are overpaying by about $4500 a year.
