The way property tax assessments work for payment by the property owner is based upon a home's then current fair market value. Over the years a home's fair market value can be reassessed based upon market conditions where a home's value either increases or decreases based upon market conditions.In order for you to be possibly entitled to a tax refund exceeding the $300.00 offered you, you need to demonstrate through written appraisals the property's appraised value on a specific date on each calendar year, for example June 1, 2011, June 1, 2010, June 1, 2009 and so forth.You need to be aware that most states have statutes stating that property tax refunds can only deal with assessments under consideration that can only go back so many years in time such as one or two.