If you plan to buy there, make sure that you offer a lower price to reflect the upcoming assessments.
If the assessments come up before you buy - offer the lower price and pay for the assessments separately, so that your sale is lower for tax assessment purposes.
This is all negotiable - to the extend the seller is willing to work with you, of course...
Most buildings have to go through 40 year recertification.
Once that is done - the values will go up, but before it is done - you do have a good opportunity to buy, as more sellers will not want to go through the noise of a construction site and the expense of the building improvement, and will start selling now. I see this happening all the time.
Again, once the building looks better - the values will go up.
Hope this helps,
Beachfront Realty, Inc.