We had the same thing happen to our property but you will be surprised if you call the AA County assessment office. Even though your assessment has been lowered it does not necessarily mean that your taxes will be lowered. In our case, our assessment was reduced by almost $80,000 BUT our taxes went up. They even tried to remove our Homestead Tax credit because of the decrease in assessment. I called the assessment office and spoke with someone there who reinstated the Homestead Tax credit but after she explained how they calculate the taxes, they always seem to get their money. They have this formula they use and they will explain it to you in detail. Unfortunately the bottom line is, even if they reduce your tax assessment, it doesnâ€™t mean your taxes will go down. The negative impact when that happens is, your house is assessed (valued) less but you arenâ€™t getting the tax break. Call the number on your bill and speak with the tax assessment office and see what they say about your particular situation.