> I paid above market value for it in 2021, and the new assessed value is identical to the closing price.

Well there’s your first problem in all of this.

But second, did the value increase after you had purchased the property? If so, and if this is your only property, it might quality for Homestead which means the tax bill can only increase so much year-to-year. However, it’s over the course of your ownership of it and you qualify for Homestead then the bill might be decreased.