The comparison that actually matters to a buyer is mill rate times assessment, not sale price times a guess. A revaluation cycle means the assessed base can lag or lead a hot market, so a recently reassessed house and a house still sitting on an older base date can show noticeably different tax bills at the same market value.
Anyone who believes their own assessment is wrong appeals to the Board of Revision within the deadline printed on the notice, since that is the only route that changes the number, not a call to a real estate office. The appeal fixes a factual error in the City's file, such as square footage or lot size, rather than arguing that taxes generally feel high.
Joel Dyck reviews a property's assessment history alongside its sale comparables when advising sellers, since buyers increasingly ask what the carrying cost will be, not just what the price is. Get your hand-reviewed valuation from Joel Dyck.