“The local governments will be hurting for money once property owners ask for reassessments en masse and the tax revenue growth dries up.”
Yes they will be hurting for money… so they will do other things… don’t be delusional and think that the local government will not take other means to raise money. There are plenty of ways for the local government to get more money out of the population that they supposedly serve. Now instead of homeowners bearing the brunt, everyone will get to share.
