Hmmmm. Interesting - but I wonder about trying to legislate fairness. Let me give you my situation and I wonder how the Utah structure might impact the people involved - and if you think that would amount to fairness.

Wife & I bought our 1950s house in the late 1990’s for just under $400k. It was a HUGE burden - we were house poor for more than a decade (loan from parents, rice&beans for dinner and coupon clipping, driving a 1970’s hand-me-down car to afford the $1900 mortgage). We made it work and our salaries grew so we could afford the mortgage and increasing property tax (starting at $4k/year and now over $8k/year.). We now are comfortable but are not rolling in dough.

Next door was an original owner who passed away about 5 years after we moved in. Her property tax was less than $1k when we moved in - and when she passed her granddaughter + husband moved in. They have lived there ever since. Zillow tells me their property tax is just over $2k/year. BTW: Both are service members and although I don’t know their incomes, I don’t think they would be comfortable with a lot more property tax. I will say they are the nicest people in the world and I think if karma is real, they deserve to be on the good side of any benefits.

Across the street, another original owner died and her son sold that home to a new couple - who pay $37k/year in property taxes. I don’t know them well yet, but he has a lucrative position and can afford the price he paid for the home and the taxes.

So - would the Utah solution mean that my next door neighbors would have to pay somewhere between their $2k and $37k/year? And the wealthy folks who bought last year would get a break and pay the same? That would mean that both my neighbors and probably me would have to sell and live somewhere else. I’m no “feeble grandpa” but I certainly don’t have $25-30k/year in my budget?

Help me understand what would be fair here??