Now is the time for agents and their clients to be pro-active.  In California, you have until April 30, 2009 to request the Assessor to informally review your property assessment and consequent taxes.  The informal review is really easy to fill out, by county, and submit by fax (only one page).  Agents can help by getting three recent comps in the area for the submitter (foreclosures may not be acceptable comps).  So fill out one form, attached three comps, and away you go.  Easy, and you just might get a favorable review and reduction (even a refund) for your efforts.  The declining market is not 100% bad, huh.