My Texas daughter mentioned that since the value of her home decreased she asked to have the property taxes decreased as well. The savings was impressive enough to make it worth while. (She didn't think they automatically did it, but would if asked to do so.) You may want to do the same.
Update: Just heard on the local news that the property tax bill you get today is for the property value of last year. Bummer. The economy has dropped to the bottom, but our property taxes are going up around 3%.