This would make a good novel like a Christmas story where the evil capitalist tries to destroy an old family housing cost but in my experience is far from reali

This would make a good novel like a Christmas story where the evil capitalist tries to destroy an old family housing cost but in my experience is far from reality. Starting with taxes - no where I have lived has does taxes at market rates like that. Many houses I have seen have low tax values that might adjust slightly on a sale. I don’t live in Cali but they famously avoid this with prop 13. Taxes may be re-rated by appraisals once in a while with adjustments to the market rate but the town doesn’t suddenly gain more of a tax base or revenue. Houses that improved move to a higher appraisal and houses that didn’t go lower. I have been through two re-rates and my lack of updates has resulted in a drop in the appraisal for the tax rate while my neighbors are higher. The rates adjust and the end result is some pay more and some pay less. This scenario might happen if you live in gentrified area and bought extremely low and get priced out but that is not the norm. The rest, I just don’t see. Either the evil capitalist is renting the houses or selling but who would list houses and not sell to drive a price down. If one is lower and sells, and there is demand for more to sell a buyer will be found.