If local government is "taking advantage" of rising home sale prices, voters already have a proven remedy — vote the rascals out. Conservatives always claim they want less government, but when in power they are just as willing as liberals to use government power to interfere with market forces to get what they want.
In this case, it's appraisal caps. Conservatives want us to pretend that real estate prices aren't rising. Let's lock in property taxes at current appraisals. Who benefits the most? Those lucky enough to own houses in fast-growing exurbs and wealthy enclaves. Who benefits the least? The middle-class and lower who live in slowly decaying cities and older suburbs where property values rise more slowly. Where do the conservatives suggest the lost property taxes be made up? In sales taxes, a largely regressive tax that hits lower income citizens hardest.
Legislators who resisted the deceptive attempt to shift the tax burden from the wealthy to the middle class under the banner of appraisal reform deserve our praise, not our criticism.
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