Property taxes are based on assessed values of property. In most states, the law requires that…

Property taxes are based on assessed values of property. In
most states, the law requires that assessed values be “at or near” market value
of the property. In one Washington county, a tax protest group has claimed that
assessed values are higher than market values. To address this claim, the
county tax assessor, together with representatives from the protest group, has
selected 15 properties at random that have sold within the past six months.
Both parties agree that the sales price was the market value at the time of the
sale. The assessor then listed the assessed values and the sales values side by
side, as shown.

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