Reminds me of an old guy in knew back in the early 90's. His (quite nice) house was on a lot shaped like "well, that was the leftovers, after we gave all the other houses reasonable lots". Every year, the City tried to raise his property's assessed value by ~10% more than the neighborhood's average increase. And every time that his house sold (he had decades of records, to support his appeals of their over-assessments), it sold for ~50% of what the City wanted it to be worth. Now if he could have gotten the City to buy him out, for what their Assessment rulebook said his house was worth...
I've often wished that one avenue of appeal of a city assessment was an option given to the property owner to force the city to buy the property for 90% of what they assessed it. You could either go through the current appeals process or just sell them the house if they were way off.
I'd be OK with that, but would probably design it to allow the homeowner to "fold" and withdraw their petition to reduce the assessment. (Otherwise, you'd see crap like "Oh, nikanj's kid is a senior next year; let's jack up their assessment because they're not going to want to move and so won't contest it...")
Where I live the assessed value is a complex formula only somewhat related to real estate values. My house might be say $500k, but it should assess for about $380k. So I'm losing long before it would be worth a buyout
Edit: Added seemed-obvious final sentence.