> If people sell then, they either are taxed or buy inflated property prices as replacement. Oh, sweet summer child. In California, you can transfer your below

> If people sell then, they either are taxed or buy inflated property prices as replacement. Oh, sweet summer child. In California, you can transfer your below-market rate to a new property. You can also create an LLC for each property so that it need never be sold (change of control of the LLC owning the property does not trigger reset of the tax rate). And your children can inherit your property tax rate, too. > When prices crash, the gov't shouldn't depend on bubble prices for revenue. Most rates are so far below the real value of a property that most people still saw (and complained about) the maximum 2% annual increase during massive housing crashes like 2008.