The prior answer is correct. Property taxes are assessed on a local basis, could be county or city or both. They will have a local assessor which will determine property values. Generally, they have a rotation where they will come and assess a proerty's value at a set time interval. They have been known to accelerate this if values are rising dramatically to take advantage of potential revenue increases. They will not be as anxious to do so in a down market. You will need to request an assessment from your local taxing body.

Each area of the country and some states will have different laws regulating how assessments are done. Some areas specify a maximum increase per year. Some areas will assess their property taxes on an estimated value without an assessor visiting the property.

Check with your local taxing body to see what is needed and what their procedures are.
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