TAX values on REO's Properties

[Amir Saeed]

I occasionally come across some REO properties that had high tax appraised value in the previous years. Suddenly in the current year I see the value dropped to almost 25% of the previous TAX year. Can someone please explain why is that. Is the bank asking to lower the Tax value since its an REO and the bank is not wanting to pay high taxes?

If I buy these REO's would the tax value remain the same or it will go back up (if yes when?). What are the implication of these fluctuating Tax values in future...Thanks