Is it better to have low assessed Land / Improvement value ratio?

[John Looplas]

I bought a property in CA for about $1.5M. I just got a letter from the assessor's office that the new assessed values are 1.35M for the land and $150K for the house. The total is correct but the ratio is clearly wrong (the house is large and in decent shape should be at least $500K; a recent nearby lot only deal puts the land value at about $800K; the previous assessed values were $600K for land and $500K for the house). I think the right values should be at least $900K and $600K.

I am planning to spend $200K on the house and then will attempt to sell it in the Spring. If I cant make a decent profit, I will live in the house for a while and then attempt to sell it in couple years.

I cant decide if I should make a fuss about this or keep it as it is.

Any advice? Shall I file an official appeal? The informal review by the assessor did not reveal anything of importance.

Any help is appreciated.

Thanks