Assessed Value vs. Purchase Price (Nassau: house, buy, assessment)

[Smoothit]

I was wondering if anyone had any thoughts on whether one should consider the assessed value of a home which is readily available on the Nassau County website when deciding whether you are getting a good deal on a house? It is my sense that if a house is assessed at, say 650K, and you buy it for 450K, you are getting a better deal than one assessed at say, 500K, which you pay the same 450K. It seems that when the market does finally turn around, you could expect a better sell price, if you are selling at that time. Is this crazy talk or is there any merit to this hypothesis. Thanks!

[TeamExit]

well the assessed value on the roll is likely from at least a year ago, and maybe more than a few years ago.. it depends how current the assessment is, and if it was a real assessment, meaning the town actually appraised it, and didnt just inflate the assessment that was already on the roll. i wouldnt really use the assessment as you are talking about here.

[TomMoser]

In my experience, assessed value has little corrolation to current market value.

[modmondays]

IMHO: you cant "expect" anything to be as it was.... nobody is going to guarantee home appreciation anymore. Perhaps it will go back to averaging +3%/year - - but perhaps it won't.