No matter what you’ll run into a situation where more people want to live in a place than there is space. So an auction must take place. If you raise the prope

No matter what you’ll run into a situation where more people want to live in a place than there is space. So an auction must take place. If you raise the property taxes you aren’t making it more inclusive but really more exclusive. The person hurt by this is the person holding the land when the tax change goes into effect. In most markets the cost of a home is a factor of interest rates, property taxes, and what’s “left over” - meaning what people are willing to pay each month. When interest rates and/or taxes go up then the “left over” part gets smaller. The banks and government get the bigger slice of the pie. But as interest rates have fallen and property taxes staying steady then the “left over” part is larger and this benefits the property owner. This is good. Inflation adjusted the cost of owning a home is the same as it was 30 years ago in most markets. Interest rates have fallen massively in that time. Some markets (like major cities) have become more competitive though.