Actual vs assessed value

I looked at the property profile of a house I'm interested in on the county's website, and it had $190k for "actual value", but only $15k for assessed value. The market value is about $210k. Why the huge (12.5:1) disparity between "actual" and assessed ? It's great if the property taxes stay really low after I buy it, but maybe it was just a personal exception that the owner had or some special circumstance. Similar houses in the neighborhood assess for much closer to "actual value", and have about 3-4 times higher property taxes.
  • August 20 2013 - US
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Answers (2)

Ask somebody local, they may be able to help.
  • August 20 2013
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Profile picture for wetdawgs
If you are looking at tax assessed values, you'll need to know the rules for your state.  

  • August 20 2013
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