Are you now paying property taxes based on the 220? Probably not.
Actually they reappraised about two years ago so I am paying based on 250, so not too far off.
I am in a rural area 75 miles W of DC and when the housing stopped skyrocketing there (it is still high but not rising), the second / retirement home market out here crashed and took everything else down with it. Hopefully we have seem the bottom of that.