Low property tax bill

[Derrick S.]

I was researching some of the distressed properties in my area when I noticed a property that has a really low tax bill. The assessed value looks like they're missing a zero. Instead of $530k, it's $53K. This is a 3bed/2bath house in Orange, CA. I looked through the past 5 years and it's roughly the same.

Has anyone seen this before or am I missing something?