The property value may or may not be growing at 10% a year. My state (Oregon) has a tax cap similar to California's. Taxable property values were capped at thei

The property value may or may not be growing at 10% a year. My state (Oregon) has a tax cap similar to California's. Taxable property values were capped at their value in (I believe) 1979 and are only allowed to increase by 3% a year. My property market value could increase 10% but my taxes will only go up 3%. During the housing crash of the 2000s, my property lost about 40% of its value. My taxes still went up 3% every year because the gap between actual value and taxable value was so large. Depending on the structure of TX property taxes, it is certainly possible to have your tax bill increasing rapidly while property values are stagnant or even falling.