Purchase price way below tax assessment valuation

[Geoffrey Ravenhill]

Hello Bigger Pockets,

I am new here and would love your help.
I am about to close escrow on a house in Santa Barbara CA for about 33% below the tax assessed value. It is trashed on the outside and inside (all cosmetic, the bones are good and it just needs some sweat equity). I write for advice on getting my tax bill reduced. Has anyone gone through this process in SB? I've checked the county tax website and it seems straightforward, but wonder if there are any tricks or other considerations. I guess I would love any and all thoughts and advice. Also do I let them see the inside (it's gross now). Or does it even matter, since I think I read that it is based on purchase price also.

Please also confirm that this is indeed something I should be considering.
Thank you so much for your help.
I love Bigger Pockets! Loving the podcast too!
geoffrey