That's rarely true. Property taxes are typically set by dividing the budget by the total value of all real estate to set the mill rate and then allocating it by

That's rarely true. Property taxes are typically set by dividing the budget by the total value of all real estate to set the mill rate and then allocating it by the specific value of your property, so if the entire market increases the tax impact based on assessed value doesn't change much. You only see dramatic changes when certain areas in a taxed area increase or decrease significantly relative to others.