: the act or an instance of assessing something (such as a property) at too high a rate, amount, or value : improperly high assessment
If anyone has had to sell their [condo] units for a loss, that has … to do with speculation, and overassessment of what the units were actually worth.—Brent Toderian Appeals coming from the neighborhood are expected to alert the tax assessor to the neighborhood's overassessment, causing assessments to be lowered in the following year.—Keith R. Ihlanfeldt … made an error in its measurements of the … property, which resulted in an overassessment of about $24 million.—Damon Lawrence
Experts estimate that between 30 to 60 percent of taxable property is overassessed.
… the properties of some predominantly minority school districts were overassessed an average of 27 percent …
… a large condo tower full of overassessed units.
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