Its even more complicated than that and this is just one example of how they can be. The example I put forth is in one small portion of a generally low priced ZIP code. All other areas of the ZIP are less expensive but someone sitting in the assessors office does not understand and cannot factor that in. It is particularly tough in this example because there are very few condos in the small area and sales are very infrequent so they have to go elsewhere for recent sales and those sales are in the the cheaper portions of the ZIP. IN this case the assessed value was adjusted too low by 30 to 40%.
