Jamie - the assessment is not always an accurate indication of value. Many times assessments have not been updated after a home has become vacant due to foreclosure or other circumstances, and the value is therefor too high. Other times, improvements have been made to the property that the assessor is not aware of, and the value could be too low. Also, in some cases markets are changing faster than the municipality is assessing, making the assessment out of touch with current value due to prices in general increasing or decreasing. Hope this helps! If you have a question about a particular property, please let me know!