3 ms·
Not only that, it's not even an attempt to reflect the market value in most jurisdictions.
by dionidium 3y ago
Not only that, it's not even an attempt to reflect the market value in most jurisdictions.
- ethanbond 3y agoI've not heard of this: why is that? What else is it an attempt to reflect?
- sokoloff 3y agoHere's a pretty randomly chosen one from a state that I know does the practice GP describes: https://www.zillow.com/homedetails/3304-Gillenwater-Dr-Knoxville-TN-37917/41624321_zpid/ https://www.zillow.com/homedetails/3304-Gillenwater-Dr-Knoxv... Sold in 2021 for $190K. Tax assessment in 2020 was $111K; in 2021 was $28K; in 2022 was $50K. The assessed value has no obvious tight relationship to the market value.