NOYB wrote:

The tax collector sees very little additional income from the rapid
appreciation. "Save Our Homes" ensures that the rate can't go up more
than
3% per year.

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That's a local program, not a general economic situation. Does the 3%
limit millage, assessment, or total tax bill? When the house sells,
does your program carry forward based on the taxes paid by the previous
owner (who purchased at a lower price) or does it extend to the new
owner who is usually replacing his previous residence with something
carrying an even higher price tag?