Yes, you can file for an abatement with the town to get your taxes lower. You will need to show similar homes in the area that are valued less than yours.
The towns are required by State Law to reassess every three years. Your home was probably reassessed when prices were higher. When the new reassessments are done, which I believe is this year, the assessments should come down. However, when assessments come down, they usually raise the price per thousand, so you are not really seeing lower taxes. In this economy, all towns are financially strapped.
You will need to talk with the Assessors Office to find out when you can file an abatement. Most towns will only allow during certain months of the year. If you can show them similar homes in your area that are assessed for less than yours, you should be able to get an abatement.