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  4. I paid $160,000 for this property. Why is it assessed at $167,000?

I paid $160,000 for this property. Why is it assessed at $167,000?

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A range of sale prices results when similar properties are sold during the same time frame. Assessed values reflect the sales in the middle of this range of prices. That is why your assessed value may be higher or lower than the price you purchased your home for.