@feld @felichsdakatze You can see this happening in some counties already.

15% increase followed by 33% increase in tax. To meet bills they generally won’t go insolvent. That’s not how it works they just raise taxes. If the assessment doesn’t meet the budget they must.

If the value goes down as they have in Austin to the tune of 20% how do you make up the difference for the current wage increases? The insurance doesn’t go down either as the cost to rebuild is the insurance cost. Not what the cost it’s appraised at. The cost of the house I use to own was 400k to buy, the rebuild cost was 500k as I bought it at a low market. Guess what the insurance was based on? The rebuild cost.