If your home is your primary residence, you are Homstead Exempt for the first $75,000. You pay taxes on everything above this amount. They are required by law to do a reassesment every 3 years and a couple of other times I can't remember off the top of my head.
During a reassesment a few years ago, people were screaming that their homes were not worth what they were being assesed at. The Assesors office told them to bring a copy of their homeowners insurance with the value on it and they would look at adjusting the assesment. Needless to say, not many fought it after that.
Being in the fire service, our budget was based on property values. I believe they were immensely under valued until that reassesment year.
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