Jumping up property tax just gets passed on to renters and doesn’t make a dent in conglomerate owner profits. The article recommended below proposes limiting property tax directly to inflation to achieve “Affordable Housing”. But this would have to be paired with a partner legislation that would limit rent increases to inflation as well. In other words, the value of a property stays constant. It does not increase if a new shopping center is built next door. As most tenants will tell you, the quality of life if you have to live there drops dramatically. First there is the years of daily construction noise. Then you have more strangers invading into your neighborhood. There is no peace and quiet. Crime usually increases. And for this the renter has to pay more.
So the proposal is that no matter what price the buyer pays, property tax would stay constant with inflation, and my proposal is that so would rent.
So when people find a place they can afford to live, they can keep living there.
