Readers suggested a topic about property taxes in a housing bubble. "Topic Suggestion-Tactics to 'Persuade' the County Assessor that your House Really isn’t worth $xxx,xxx."

"Maricopa Co, Arizona, came out with their assessments for 2008 already! I guess they’re trying to lock in the values before they sink into the abyss."

One said, "That’s a cottage industry in Dallas. The tax appraiser has really been socking people the last two years with absolutely no justification."

One saw this, "Especially since if your house was 'worth' $100,000 ten years ago and then $250,000 five years ago and $500,000 today you in fact not gotten anything more then you had ten years ago since you still live in the same house and you are still getting the same government services yet they want to charge you more when you have not made a dime off this appreciation."

"I can see people paying more in sales taxes when they sell at a much higher price but if you have not sold you have not made a dime in profit so why are you paying more for some possible profit later that may not even occur if house prices drop."

One recalled, "I lived in AZ from 2001 - 2004, we purchased a house in McCormick ranch for 235k. It was first purchased for 100k 10 yrs prior. It took 10 to double in value, seems normal right? Subsequently when we sold it to move away 2 yrs later, we got 265k for it. We had an offer of 275k, but was told we could not sell it at that price as it would not appraise for that, so the buyer would have to come up with the cash difference. Now how does that same house, go to 460k 3 yrs later? How is this possible?"

A reply, "Not for nuthin’, but 135k jump in ten years isn’t particularly normal (at least IMHO). 460k? We all know that’s just obcene. Welcome to the wacky world of sub prime mortgages!"

Another added, "Doubling in 10 years is not normal — that means that the home appreciated at a rate of 7.2% every year for 10 years, which is far above the rate of inflation or increase in incomes."

And another said. "He does raise a good point. How often over these last five years or so did a deal fall thru because the appraisel couldn’t be reconciled with the offer. Probably less that in previous decades I would imagine. A sure sign a dirty appraising and appraisal shopping by realtors."

The Arizona Republic. "If you've seen homes selling for less in your neighborhood lately, you might be thinking there's a silver lining. Your home could be worth less, so your taxes might be less, too. Right? The answer is an unqualified maybe."

"Homeowners in Maricopa County got an envelope in the mail last week showing their homes' new assessed value. And on average, that value is up. Not the 52 percent rise of the boom days, but still up, 13.4 percent overall."

"Tax bills are due out in October, and those could surprise homeowners more than their recent valuation. Property tax bills lag valuations by almost 18 months because of Arizona's complicated property-tax system. So the tax bill homeowners get in the mail this October will be based on the assessment of their home's value a year ago, after Valley housing prices skyrocketed 52 percent."

"'The tax bill people get this fall could be the one with the big increase,' County Assessor Keith Russell said."

"The valuation most Valley homeowners got in the mail during the past few weeks will show up on property-tax bills in fall 2008. These valuations show an overall 13.4 percent increase on single-family homes. 'We recognize the housing market slowed last year and tried to incorporate that in the most recent valuation,' Russell said."

"Nick Wood, who lives in Ahwatukee Foothills, said his latest valuation jumped 4 percent over last year's valuation to hit $685,500. Like other homeowners, he has mixed feelings because while the increase could mean higher taxes, it also means his house is appreciating."

"'You know, part of me says it is excessive, but another part of me says obviously the value of the house has increased and there should be an increase. There is justification for an increase. So it's kind of bittersweet,' Wood said."

"What could spur more appeals this year is a wave of mortgage fraud in the Valley that has inflated some home values through scams called cash-back deals. The fraud involves obtaining a mortgage for more than a home is worth and pocketing the extra money in cash. The deals are pushing up comparables beyond the true value of a home. Mortgage fraud opponents say the deals could inflate property taxes."

"'Mortgage fraud could create a nightmare for the county assessor trying to base fair valuations on comps,' said County Treasurer David Schweikert."

"Determining the comparable sales, in a neighborhood is at the crux of the housing market. Homeowners feel poorer or richer depending on what houses are selling for in their neighborhood. Buyers check out comps to see where they can afford a home, and what kind of offers they should make sellers."

"Appraisers look at comps in neighborhoods to determine the value of a home someone is trying to buy or sell. Lenders rely on those appraisals to fund loans that won't go south on them."

"Unfortunately, cash-back deals are making it harder to determine the value of homes in metropolitan Phoenix now. These fraudulent transactions involve getting a mortgage for more than a home is worth and pocketing the extra cash."

"Many people involved in the deals may think they are harmless ways to make money in the Valley's slowing housing market."

"But those deals can mess up the comps in an area, and that can hurt many people, including neighbors of the home sellers, people buying at the inflated comps set by cash-back deals, and lenders who fund the loans and end up losing money on them."

"Some veteran Valley Realtors are throwing out comps on homes they think are inflated in information they give to prospective buyers and sellers."

"More lenders are balking on Valley home loans because of unreliable comps in some areas. Some of the big mortgage companies are second-guessing recent home appraisals in metropolitan Phoenix and hiring their own appraisers."