I don’t get that part either. OTOH, an effective property tax rate of 3.2% or so seems much more reasonable that the 9.8% percent implied by his table. Assumi

I don’t get that part either. OTOH, an effective property tax rate of 3.2% or so seems much more reasonable that the 9.8% percent implied by his table. Assuming people but anywhere close to as much house as they can afford, the city taking 10% per year seems just confiscatory.