In retrospect, the problem is the US has had poor property tax policies. Property tax should be based on 1) the land square footage and 2) the value of the location. If a lot is double the space of normal lot, the tax should be at least 50% higher. If the price increases sharply, the taxes should as well. This way large lots sizes and price fluctuations would stay in check. The property taxes in SF, by the way, are way too low for the current value and square footage of the lots.
Prop 13 has hugely restricted the ability of municipalities to tax land. Despite being sold as keeping the elderly in their home after retirement, that's a tiny subset of what was actually covered in the law.
I agree that a more Georgist tax policy is in order, but fixing Prop 13 is pretty tough. It gets older residents really really riled up when changing Prop 13 is mentioned.
With decent reason. There is no, and I really mean no reason why someone should be forced out of their house due to rising property taxes. That's just not what taxes should be used for.
Really, it should have applied to one's primary residence, and that's it. Maybe the primary office of a small/medium business.
