Tax Assessed value vs. List Price
I am looking to purchase my first small multifamily in the Newburgh, NY, area. I set a goal to analyze at least two properties a day. This property is two units with a list price of $179,000. The tax assessed value is $85,200 (2020). I know the RE market has grown exponentially. This property sold for $36,000 in 2002.
Is it normal for the tax assessed value to be significantly lower than the list price?
Will that affect me in anyway if I purchased it?
