Is a low assessed value a concern?

Most times the tax value is lower than the market value, which is good because you pay less taxes.

Augustiner

in Taxes 13 years and 1 month ago

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sometimesright | 13 years and 1 month ago

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I’m considering buying a condo in Brooklyn. According to NYC, the assessed value is 50K and the market  value is 114K. The actual market value is 600K. Should I be worried about this gap or is it normal?