Most answers below are wrong on one thing. Yes, your house may be reassessed, but only the structure portion can be reassessed. If have a 1 M house, usually lan

Most answers below are wrong on one thing. Yes, your house may be reassessed, but only the structure portion can be reassessed. If have a 1 M house, usually land is 800 K and house is 200 K, and in the case of a long term owner, it could be 300 K land + 50 K structure or something like that. County can’t re-access your entire land. They might add 300K for your structure improvement. Yes, it is bad, but not as bad as someone who is buying that home now.