There’s no reason the local government budget should increase at the same rate as the property values in the taxed area. Property taxes should generally increase at the rate of inflation not because property values increase.
However, where I live local government is wildly inefficient. So in that case property taxes should go down while property taxes go up via the expedient of competent governance. Alas.
> There’s no reason the local government budget should increase at the same rate as the property values in the taxed area.
There's some reason. City workers may need to live in the area. If housing becomes more expensive, the city may need to pay higher wages.
Sure. But that’s why schools in California are underfunded.
California doesn’t have a property tax system. They have a tax on newcomers. It’s entirely corrupt.
I pay property tax twice a year in SF, not sure what you mean
he means CA home values are re-assessed at purchase not annually like most other places. so your new neighbor is paying a lot more in property tax than the people that have been on the block 20 years.