question regarding Assessed value vs. What I paid

[Michael Sherwood]

Hey Guys, I bought a house in march of this year for about 58,300 and according to the assessment I got its worth about 66,000 I put about 3% down. So this means I needed to get PMI insurance( note the 58,300 is with seller cons. included) I want to know since its assessed for more than I paid this is technically equity built in correct? If so does that go towards the 15% to get the PMI removed? I want to know this because I think this will save me some money on the mortgage( I have taxes insurance and PMI all included ) Also for anyone living on NY on average how much does STAR save on your taxes? any advise from you guys is appreciated!!