conversation: User (GRA335): "Bought a house 2 years ago, and put down 15%.  We did some work to it, and we are well over the 20% now in equity - if - we were to have it reassessed.  Our mortgage company said we could only reassess after 2 years of the mortgage conception, which we are now past.\n\nWhat is the smart play here?  I'm assuming a reassessment costs a decent amount.  PMI runs us roughly $50 or $60 extra per month .  \n\nAlso, wouldn't the reassessment also increase the value of our home meaning we would owe more in taxes?\n\nI'm looking for whatever is the smartest play here.  We are not moving in the new few years, hopefully, so any insight would be appreciated. Thanks!"
  Self: "&gt; reassessed\n\nYou are confusing "appraised" (what your lender cares about) and "reassessed" (tax value).\n\n&gt;We did some work to it, and we are well over the 20% now in equity \n\nHow?  Comps?  Or do you think the work you did added this value?  If so, what work did you do?"
  