The market value of a home is based upon the sales of 'like' properties --- in general, those with the same number of bedrooms and baths. What those like properties are taxed may be a consideration among many as to whether or not a Buyer will purchase a particular property, but there is little direct relationship between the town's assessment (whenever that may have been performed), and today's market value.
Some towns have been ordered by the Monmouth County Tax Board to conduct revaluations of property, precisely because the current assessments have very little relevance to current market value.
As always, your offer should be based on current Market Value, not the asking prices of homes that have not sold and not the assessments. If you need any help, just give me a call.
Call me if you want more details