Assessment uses mass appraisal from recorded property attributes on a fixed cycle at 80 percent of value, while market value is set by what comparable homes have actually sold for this month. A successful appeal usually means the City had your attributes wrong, a lot size, a finished area or a condition rating, not that the neighbourhood's sale prices moved.
The two figures can even point in opposite directions at once. A house can win a meaningful assessment reduction while its market value rises, because the appeal corrected a data error from years earlier while current buyers are simply paying more for houses like yours today than they were twelve months ago.
If you are pricing a sale rather than a tax bill, the appeal outcome is not the number to use. Joel Dyck prices from sold comparables and documented improvements, independent of what the assessment notice says. Get your hand-reviewed valuation from Joel Dyck.