[dtel]

Exactly.
Less say you pay 1% RE tax on your 100K crib.
1000 a year.
Now your home is worth 200K.
2000 a year.
City gov running short of money?
Hey good news Joe, your crib is now "worth" 300K.
Send us your 3000.
Payable in cash by the end of the month.
Gotta love it, see we never even raised your taxes.

[Grut]

Gotta love it, see we never even raised your taxes.

My solution: make any real estate assessment a bona fide offer by the assessing agency to buy the property at 90% of the assessed value. Instant return to real market values!