This is not uncommon throughout Florida. A recent study I completed of several communites in the Tampa area showed public record values off by as much as 100% of SALE VALUE. The average was 70% in desireable communites. One such community has 11 sales so there exists current reliaable data.
Be patient...the taxes will eventually catch up,...and when balanced if there is a bump in the road, the taxe value will be greated than the SALE VALUE.
If you want the REAL values for a property, you should consider consulting with those who do this hundreds of times a year. There is real vaule in working with a professional.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL