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What does overassessed mean?

Looking for the meaning or definition of the word overassessed? Here's what it means.

Verb
  1. simple past tense and past participle of overassess
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Examples
If an initial review indicates that the property is overassessed, it should be determined whether the difference in value warrants hiring an appraiser to give an opinion.
The state department has said it overassessed the value of property of the computer chip manufacturer in recent years.
People say children are overassessed but that's because they are doing lots of high stakes tests which means high pressure.
Without insight into current real estate market conditions, your properties may be overassessed, and you may be paying more real estate taxes than are appropriate.
If the real estate market declines sharply during the revaluation or soon after, the County will once again face angry and overassessed property owners.

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