No, the person you’re replying to likely lives in an area with annual assessment limits. This means when they move into their house, they pay taxes on the assessed amount at that time. Every year, even if the assessment shows a 50% increase in value, your tax increased will be called at something like a 2% increase. Over the course of 30 years this adds up to huge tax savings the longer you stay in one place. The downsides are that it causes more traffic, causes homes to sell less often, and provides less local tax to fund public programs like schools.