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In my experience (Texas), property tax rates fluctuate year over year, based on a combination of appraised value and budgets for each of the municipal bodies that are funded by property taxes.
If property values were rising rapidly - I have not seen our county (for example) suddenly awash in new money. In Texas property taxes are almost completely spend locally - usually school districts, then cities and counties. If for some reason the tax revenues are higher than expected, a school district is expected to add to their "fund balance" - which is reported to the public. If a school district were hoarding cash, voters should react and elect a new school board.
I am opposed to all real property, sales and excise taxes. All governments should be entirely funded on progressive income taxes based on all income from all sources
Haven't you advocated "wealth" taxes? In other words, taxes on assets that might be equities?
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