An assessor IS an appraiser and an assessment, like an appraisal, is nothing more than an opinon of value that was made at a particular time. In New Jersey homes are assessed only once every ten years or so. In between a mathematical formula is applied to adjust the assessed value so it more accurately reflects the market value. It is VERY rare that this formula decreases the amount of tax due but in theory it could happen. I have also heard the argument made that if other similar homes, same neighborhood, same square footage, same number of beds and baths and so on, are assessed at or near the same value you could have a difficult time getting an adjustment. Still it is worth a try. Contact your county tax assess or to learn the process and go for it. You've got nothiing to lose.