Two practical and one theoretical issue with this: - This relies on a city's ability to repeal property tax. - There is a carrying capacity to a city and beyon

Two practical and one theoretical issue with this: - This relies on a city's ability to repeal property tax. - There is a carrying capacity to a city and beyond that lies a housing market crash when supply is in large abundance and there isn't a backlog of buyers. Hurting current property owners even more. I would have to see some more detailed analysis that shows you can simultaneously set this rate at a point low enough to not kill current investors and high enough not create a huge budget hole for the city in question.