The solution is to means test property taxes. To keep lower-income residents in their homes, we discount their property tax from the standard rate.
If you're wealthy and can afford to pay a market rate property tax, then you pay it.
If you're wealthy and can afford to pay a market rate property tax, then you pay it.
If the point is simply to raise income for the state, that’s an interesting discussion that we can chat about. But the topic is housing availability and I don’t see how this proposal would affect that with real means testing. People who can afford it won’t move and landlords will simply pass the costs on to renters.