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magicsqueegee t1_j0f5i68 wrote

My guess is the covid exodus from nyc means the property value versus 2018 has exploded. I know I was house shopping during the covid years and the market was absolute bananas. The house we got had 2 over asking offers on it the day it hit the market, supposedly one of which was sight-unseen.

So yeah, the good news is your house is worth a lot more now.

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BenVarone t1_j0h2q8g wrote

Yeah, assessed values are often still comically low relative to actual prices. For example, our house was last assessed by the city at $515k. New assessment came in at $660k. Actual assessment when we bought it? $1.2 million.

OP doesn’t even live in Stamford, so is part of the reason prices are so inflated and assessments are going up. I find it difficult to feel all that sympathetic for an out-of-town landlord.

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magicsqueegee t1_j0h31nm wrote

Exactly. Oh boo boo you're paying taxes to the city you leech off.

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urbanevol t1_j0h55ls wrote

These assessments are supposed to be 70% of fair market value.

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BenVarone t1_j0h9xej wrote

That’s good to know—still coming about $200k under what 70% would give, so I feel great about it.

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