> So lower property values just mean less taxes for me. In my state, your property's assessed value for taxation purposes cannot rise more than 3% per year, cr

> So lower property values just mean less taxes for me. In my state, your property's assessed value for taxation purposes cannot rise more than 3% per year, creating a pretty long lag time from the value going up to the taxes going up. My home is worth about $650K, but it's being taxed as if it was only $250K.