[hnav]

They definitely cannot just repeal it outright, but they could give the housing marking a "soft landing" by just changing the max increase %. Let's say that we want to deal with the case of properties' real values being 5x the assessed tax value, assuming 0 future appreciation here's how long it would take for property taxes to catch up at 2%:

  log(5)/log(1.02) = 81 years

and at 8%:

  log(5)/log(1.08) = 21 years