Trump claims that his Mar-a-Lago estate is worth (checks notes) $1.5 billion. Okay, then. Shouldn’t property taxes be assessed based on that valuation? Just asking.
Property assessment value is often less than the appraised value [which relies more heavily on marketability]. However, when there is a huge discrepancy, the assessed value will be reviewed and changed.
@beladona @georgetakei And somehow it's always the really expensive properties owned by very rich people that show those huge discrepancies. The county assessor values my house at exactly what Zillow does, so I'm paying taxes on every bit of market value. But to pick a random $20.5M estate near me, it's taxed at $15M. Funny, that.