What is the difference between the selling price for a house and the tax assessment value?

If I buy a $300,000 house, is it safe to assume that the tax assessment value will be $300,000 as well?

I look at houses on zillow and the tax assessment value shows as $200,000 on a house that is selling for $300,000. Is this because the house originally sold for around $200,000? Just trying to understand the property tax implication a little better.

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