Rob Zaleski wonders why we cannot control property taxes:
Though they don’t get much media attention, there are, in fact, some ideas out there worth pursuing, Reschovsky says.
Among the most promising, he says, is a recent proposal by his colleague Don Nichols, director of the La Follette School of Public Affairs, that would freeze the rate of property taxes on all farms and homes to the rate of income growth of the average Wisconsin resident. The result, Reschovsky says, is that low-income people wouldn’t be driven from their homes. (For more details, see email@example.com)
Beyond that, some states have tried assessment caps, with mixed results, Reschovsky says. The best example, of course, is California’s controversial Proposition 13, which was passed in 1978 and limits increases in assessed value to 2 percent a year. A house gets reassessed at full value only when it’s sold.