There&#x27;s a similar mechanism in place for owners in California, 1978 California &quot;Prop 13&quot; [0].  Among other things, this limits the amount that the &quot;assessed value&quot; of a property can increase to 2% per year, unless the property changes hands, in which case it can reset to &quot;market&quot; value.<p>It has contributed to people staying in their houses a lot longer than they&#x27;d otherwise be able to.  This increases the amount of NIMBYism as older people don&#x27;t vote (in general) for things which change the &quot;character&quot; of the places they&#x27;ve lived in for 40 years.<p>Proponents will say that it increases stability of communities, taking as an article of faith that community stability is something that should be optimized for.<p>Among other things such as lack of effective regional public transit, I consider Prop 13 to be a sizeable disadvantage to the bay area&#x27;s continued viability as a tech hub over the next 20 years, as it even further constrains the amount of housing available, &quot;affordable&quot; or not.<p>Anyway, this is of course probably old news to you if you have ever considered buying property here, but for people who are not from around here, it bears mentioning.  Are there such controls elsewhere in the world?<p>[0] <a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;California_Proposition_13_(1978)" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;California_Proposition_13_(197...</a>