assessment value vs FMV.

i know assessment value is not FMV but
does assessment value have ANYTHING at all to do with FMV?
no indication at all?!?!

In a broad view across all markets NO, assessed value has no correlation to FMV. Within specific markets the story might be different. Some municipalities have a policy of assessing at 100% of FMV while others assess at say 25% of FMV. That said, you must realize that no matter what the local policy the county appraisers must evaluate thousands of properties annually so the analysis they do is generally limited to a paper review or maybe a neighborhood drive-by every couple of years. If you rely upon assessed value in your economic decision making you will likely get burned.

thanks. concise and to the point.