Does sale price affect assessment value for property tax?

[Account Closed]

I am looking at a home selling for $119K. The assessment for 2016 is $81,600. I am wondering if purchasing the home more than $37K above assessment would increase the tax assessment, thus increasing the property tax.

[Michaela G.]

That can differ in different states and counties. In Fulton County, Georgia, assessed value adjusts to whatever your purchase price was for the 1st year after purchase. After that it can go up or down with the market.