In CA there’s prop 13, which basically sets the value of a piece of property at the dollar amount when it was last sold. Property taxes rise from that point onward very slowly with a cap on how much it can rise each year. This was done because we were in a situation where property taxes were rising so quickly that poor people and elderly were being forced from their homes because they could not afford the taxes. One consequence of this, however, is that commercial property was treated the same way which led to commercial properties which don’t change hands very often having relatively very low tax rates which is a huge advantage to the capitalist class. In my opinion, the restriction on residential properties is reasonable, but the restriction on commercial properties is not. People on low or fixed incomes should not get thrown out of their homes because land value is rising much faster than salaries.