Home prices may plummet, but property taxes won't

"Housing prices have plummeted, but property tax bills probably won't budge.

This January, local tax authorities will begin to send out property assessments for 2009, telling homeowners what their property is valued at, and how much their tax bill is.

But many assessments won't reflect any of the steep home price declines that have been making headlines for the last year or so."

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Home prices may plummet, but property taxes won't