DH and I keep getting things in the mail about grieving taxes. Question, we received something from the county saying our house assessed for a certain amount of money 80k less then our appraisal and purchase price). Taxes were then based on this amount.

What does this mean? Should it be closer to the purchase price of the house? If so, would taxes go up?

All of this confuses me.

Oh, DH and I also sent the STAR application in several months ago. Do we hear a response at all? When will we know what the deduction is?

TIA. I'm a first time homeowner and have no clue about these things.