[orik]

because your property tax is no longer tied to what your house is worth, but instead tied to some arbitrary measurement (fixed % increase on what it used to be worth)

x != y

[WillPostForFood]

The price you paid is no more less arbitrary than approximate current worth.

[PretzelFisch]

how is that not level? once someone buys a house they are in the same system?

[henrikschroder]

Over time, you accrue a large tax benefit as a homeowner, if the actual value of your home increases more than 2% every year. By moving, you reset this benefit, which is a disincentive to moving.