REO property and taxes

[Jonathan Safa]

Hey everyone, 

Made an offer on a home that has, according to the county website, a Fair Market Value of $187k. Taxes, then, on this property in 2016 were $2,765. 

I have made an offer on the home at $77k. It is safe to say it needs a great amount of work. 

Can I expect taxes to decrease substantially after the home is appraised in my closing process? I do not want to make any false assumptions, but I can't imagine a world where the taxes are continued to be based on the previous home value? 

Thanks! 

Jonathan