[vonmoltke]

Texas also has a value increase cap for owner-occupied residences, though not as generous (10% per assessment, since the state uses three-year assessment periods).

> Why should we be giving tax breaks to people who have seen incredible appreciation of their homes. Those are the last people who should be getting tax breaks.

It's about not forcing people to move because he area they live in appreciates suddenly. Basically, the same argument as rent control. That an owner gets to cash out some value is cold comfort when their life is uprooted against their will.

[refurb]

It’s a common method in Canada as well.

The end result is, if the owner chooses, they can continue paying the same property rate until they die or sell. The govt eventually collects the full tax from the equity of the house (or estate).

You solve the issue of people being forced from their homes while at the same time being more equitable in terms of tax burden.