Property Tax Calculation/Estimation

[Shivam Patel]

Hello,

I'm trying to estimate taxes for the rental property expense estimation I'm having a hard time figuring how much taxes will hit me per month in future if I were to buy the property.

Example: As per County Appraisal District, the property is appraised at $100,000 & taxed at 2% (tax rate), so taxes are $2,000/yr. Let's say I bought the property at $150,000. Does it mean my taxes will be 2% of $150,000 = $3,000 now on OR will I still be taxed at $2,000 going forward?

Basically, what defines and when will the value of the property change and by how much, for it to be taxed accordingly?

This will help me estimate taxes better in analyzing rental properties and cash flow. 

Thank you in advance.