I had a similar situation this year. Our property was way undervalued for years. We bought the house in 2021 and they reevaluated six months later to match the sale price. My problem was there are comparables (otherwise the loan wouldn’t have been approved) and it’s hard to say they overvalued it given that’s what we bought it for. Of course there are also plenty of houses that are undervalued because they haven’t been re-assessed in years. I didn’t have any luck but you really have nothing to lose by trying.