I live in an area where they do periodic reassessments every ~3 years (we were not reassessed after our purchase in 2020). We purchased in late 2020 for a little over 700k, but the assessment from 2018-2022 didn’t change (previously 575k). Just got our new assessment for 2023-2025 back at 825k.
I plan to appeal, but I don’t expect them to budge as the most recent sale was our neighbors house directly across from us which is almost 400 SF smaller but sold for ~900k. Basically nothing for sale with in a few miles radius either, so no new comps expected to appear before the 45 day appeal window closes. The new tax will be phased in over 3 years, so we won’t pay the full amount until 2025…I be



