Does RE Tax move with price?

according to what i've read on this, it goes up if home prices go up. but if home prices go down across the board, taxes do not go down. counties just push the % higher if many ask for a reassessments of value. public spending goes up with ease but not the other way around.

Your real estate taxes will be reset when your abatement ends, but I'm not sure if it can be during the abatement. Co-ops and condominiums are not taxed on their market value, but rather their imputed rent. It's a very complicated process.

If market goes down 40%, your RE taxes will likely not follow, because the city will be getting kicked in the head and need your tax revenue. When the abatement ends in 10-years, if prices have declined the properties will be assessed downward, but the tax rate will probably be raised so that there's no loss of revenue.

ali r.
{downtown broker}