Thanks for the great info everybody; sounds to me like the best course of action is to wait until the trough and appeal near trough’s values. Seeing how long previous boom/bust cycles have lasted, if it takes approximately another 5-8 years before we’re back at current 2006 prices, it might be worth the time and effort to re-evaluate assessed values for property tax reductions especially if your purchase price was over 30-40% of 2000 levels.
