When the assessed value of my home goes down, how is my mortgage affected?

When I bought my home, it was assessed at 90k. Now, two years later, the assessed value has dropped to 74k. Should I notify my mortgage company? Would it help me, or hurt me?
This assessment is from the county property tax assessor.

I need to find organizations that help with deliquent mortgage payments?

I am iin Chapter 13 bankruptcy. My mortgage co sold my loan and I am now behind in payments.

Difference Between Second Mortgage and Refinance