[quote=sdrealtor]The lowered assessments were based upon January 2009 comps which in many cases were as bad as they could be. I have a property listed that got reassessed for $120K but which has no problem attracting offers between 180 and 200K. It aint an exact science out there.[/quote]
Good point. The date for the assessment is almost a year behind the current time frame, so a 5-10% discrepancy due to market increase is feasible. Also, throw in another 5% margin of error in assessing any property and you could easily get a 5-15% discrepancy between today’s selling price and someone’s re-assessed value.
