In Texas all property is appraised at fair market value on January 1 every year. The fair market value is determined by the independent Tax Appraisal District, which is usually county wide. One good thing about moving out of the city sub-division where we did live was our appraised value is not going up every year. Since they were still building in the sub-division as new home prices went up every home's appraised value in the sub-division went up every year.
Property taxes are usually assessed by the city, county, and school districts on October 1 and payable without penalty by January 31. Mine were paid in November so I will get the deduction anyway. Since Texas does not have a state income tax I also get to deduct estimated sales tax based on income.