Just imagine, you buy a house for $280k. It was built in 1985. You own it for a couple years and the home gets reassessed for $390k. You successfully appeal that down to $234k when the appeals board decides your home is much smaller than they thought and that it is 10 years older than they thought. That would be great, wouldn't it?
It doesn't end there though. You put the house back on the market for $400k right after you win the appeal.
This probably would sound fishy no matter who owned this house. What makes it smell worse than Barney Frank on a hot summer day is who sold the house to this lucky man and who this lucky home owner is.