Assessed value vs. market/sale price in Durham NC

[Soup Nikk]

Hello Biggerpocketers,

I am newbie to rental property investment (as well as biggerpockets!) and just getting started on my first deal. I have chosen the Durham market (primarily for 2 reasons, I am tad bit familiar and also would like to own it as either a secondary home/rental property).

The question that I have is, property taxes in Durham county are pretty high, roughly 1.3%, but I have been told by a property manager that the assessed value always comes up lower than the actual fair market price or the sale price (on a new home), and it's more in the tune of 1%. How true is this based on all your experience?

I am considering a new town home as a starting point and would love any advice around that as well (if it's a bad idea / gotchas around that).

Regards,

Soup Nikk