2%&#x2F;year is pretty inconsequential.<p>Consider that the average inflation rate is 3-4%&#x2F;year[1][2], and houses generally tend to increase in value at roughly the same rate as inflation[3]. Thus, your property taxes are <i>expected</i> to get cheaper in real cost every year, assuming the housing market is relatively stable.<p>Of course, in SV, the situation is much much worse than this, because housing prices have grown much faster than inflation due to the booming economy.<p>[1] <a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Inflation#Measures" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Inflation#Measures</a>
[2] <a href="http:&#x2F;&#x2F;inflationdata.com&#x2F;Inflation&#x2F;Inflation_Rate&#x2F;Long_Term_Inflation.asp" rel="nofollow">http:&#x2F;&#x2F;inflationdata.com&#x2F;Inflation&#x2F;Inflation_Rate&#x2F;Long_Term_...</a>
[3] <a href="http:&#x2F;&#x2F;observationsandnotes.blogspot.ca&#x2F;2011&#x2F;07&#x2F;housing-prices-inflation-since-1900.html" rel="nofollow">http:&#x2F;&#x2F;observationsandnotes.blogspot.ca&#x2F;2011&#x2F;07&#x2F;housing-pric...</a>