&gt; This applies to everything else governed by a market, why shouldn&#x27;t it apply to property taxes?<p>Does it apply to anything else you <i>own</i>? If 2004 Honda Civics suddenly got really popular and I already owned one, I wouldn&#x27;t suddenly be priced out. Or if I own gold or stocks, and the price goes up, that doesn&#x27;t affect me at all unless I sell.