.% payment is ultimately a gamble on the conventional interest rates in the future and assessment on whether the extra 6.6% in downpayment is more useful elsewhere. 

Seems thin but then you have not identified a location to help assess the realism of those numbers. 

It is noted with in the system and can raise the properties value as far as assessments go. 

Basically, we bought a renovated house and when it was assessed the next year the property value went up $40k and property taxes shot up on us (added master bed and bath).

However, there are, to my mind, fascinating questions.Background: A taxpayer has two contiguous parcels:- a delinquent parcel with a house on it that has been under-assessed as land.- an up-to-date parcel that is only land, but which has been over-assessed as having a house on it.Due to what appears to be an assessor's error from years ago that one can say "switched" the parcels, I think the taxpayer believes she has been paying taxes on the parcel with the house, and is unaware of the error.Questions:1)  Someone in the Tax Assessor's office in downtown Birmingham told me today that if I buy a tax deed for a parcel that has a house on it, but is only assessed as land, the tax deed only entitles me to the land underneath the house. 

Please message me if you'd like it.This made me confident with my ability to assess properties and found MANY MANY MANY (I'd say about 90%) during this dry run period that made absolutely no financial sense to invest in.

The majority of towns in NJ do not update their assessed values every year.

Because I assess all the risks, and if I can't develop a mitigation and contingency plan to handle the risk, then I don't do the deal.

In that conversation, I expressed my assessment is that we are due for a recession - albeit our expectation is this next one will not be predominantly a real estate centric downturn.

Also, you can go to the city appraiser page and check the total taxable assessment value of the house, that is the sum of the land, structure, and taxes. that the value the city is giving the prop.