Checked the mail today and discovered the assessment on my house has been reduced roughly 12%.
This reflects the purchase price, within a couple thousand … so it may be formula.
Funny thing is, I called the mortgage broker a while back asking about the process for having a home reassessed. They seemed to not like this idea but gave me information on doing it. My logic being, I’m paying taxes on this amount more than I should be …
Anyway, I never followed up on that. So the letter is funny, because it basically gives me exactly what I was going to ask for. However, since it’s the town doing it now I worry it’s a bad thing. Lol brain. But that said, any thoughts?
House was assessed at 182k, I bought for 162k, new assessment 160k.
… how do you look at this? No plans to move in the next few years, lower taxes, low interest rate locked in, I purchased about a year ago. … guess the question is, what’s the relationship between sale price and assessment?