[scurvy]

The tax rate can also be passed down to your heirs upon your death. It also covers commercial buildings. What was originally sold as "don't tax grandma out" is obviously a power move to create a land holding elite.

I'm a property owner, but I don't really like the system. I also don't like how mismanaged the property taxes here are, but that's another thread.

[hvmonk]

Can't agree more. The laws made in late 70s were made to benefit a specific class of people, and they are most vocal against any change which is aimed to bring equality.

[DrScump]

"The tax rate can also be passed down to your heirs upon your death."

So can rent-controlled rents, believe it or not.