"Further many residential properties are owned by LLCs and other corporations that allow them to lock in low taxes by never selling the actual property ..." I

"Further many residential properties are owned by LLCs and other corporations that allow them to lock in low taxes by never selling the actual property ..." I think you are talking about prop 13 and the ability of corporate entities to benefit from the provisions of prop 13 which I agree, is completely insane. But prop 13 is limited to California and I know of no other states that have anything comparable.