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Any municipality worth its salt will check selling price against appraisal (or assessed value). Selling price markedly higher = reassessment. Selling price markedly lower = challenge by new owner.
Relatively few assesments are made by actual physical visits, but are based on "formula" taking into consideration other sales in the same neighborhood. It is in the best interest of the property owner to keep track of these changes.
Off track, but I take exception of additional property taxes imposed on a property that has been upgraded where the upgrades do not in any way require additional expense to the municipality.
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Bob S. former owner of a 1984 silver 944
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