Post #15413 by RaplhCramden on the US Policy board

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There are some exceptions - California being the most notable. Property is taxed on the purchase price; which of course has created all sorts of challenges for local governments.

THis is not quite true. California property is taxed on its current value, but the "taxable value" of property is only allowed to be raised by 2% each year unless the property is either sold or significantly invested in. So if you add a $100,000 addition to your $200,000 house, your property value can go up by more than 2% that year.

Of course since property values rise by much more than 2% a year historically in california, there is a significant advantage in lower taxes for people who have lived in their homes many years vs their neighbors who have bought homes recently.

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