In my state, homes are assessed using true cash value (TCV) when the property is sold and then the taxable value is adjusted annually. If the property values wi

In my state, homes are assessed using true cash value (TCV) when the property is sold and then the taxable value is adjusted annually. If the property values within a neighborhood decrease (e.g. due to uninsurability) then that would be reflected in the taxable value. Take a look at Detroit and surrounding area property values in the late 1980s and 2008-2012.