Offer Price Vs Assesed Values

[Jared McCool]

Hey all,

This is my first discussion on BP. I have been a follower of the fourms for months, and finally found a topic that seems to not have any coverage.  It almost scares me, that the answer is so obvious that no one bothered to start a discussion, but I figured I would bite the bullet anyway.

Assessed Value of a property for property taxes, should this have any indication of the sales price of that property?  For example, a turn key property that is move in ready, priced reduced from 205,000 to 194,000.  All the close to comps for this property sold for 210,000 to 245,000 within the last 6 months.  I will cash flow will cash flow and be happy with an offer accepted around 164,000.  However, the assessed value of this property is for 135,000.  I don't know when the property was last assessed, should be within 2-3 years ago.  Should I be worried?  Should I shoot to have my offer match or below the assessed price?  I know I am cash flowing already with an offer of 164,000, but do I have ground to stand on if I bring up this point, or just look like an idiot?  Save me from making a mistake either way. INPUT?