No. If the property is three times larger than your property, it would not be considered comparable to yours. For example, if your property is a 1,500 square foot home, assessed for $500,000 and up the street a 4,500 square foot home sold for $2,000,000, it would not be considered comparable to your property and this sale would not impact your assessment. Assessments are based on comparable sales. Even if a 1,500 square foot home sold next door for $2,000,000, one sale would not impact your assessment. However, for example, if a few sales of 1,500 square foot homes sold for $2,000,000, then the market value of a 1,500 square foot home in that neighborhood would be close to $2,000,000. You should expect a change in future assessments because of the apparent change in market value. In this example where there were multiple sales of 1,500 square foot homes for $2,000,000, it appears the market value of the 1,500 square foot home is no longer $500,000.