

It doesn’t make sense that cities need to increase property taxes every year though
Property tax revenue should be increasing every year by default without changing the rate simply because houses and properties increase in value every year typically
If property tax is 5% and the town makes $100,000,000, the next year if property value increases by 5% then their revenue goes up 5% as well to $105,000,000 automatically. Why do they need to also increase the tax to 6%?
People need to stop thinking about property like it’s any other regular thing like a vehicle.
Land is not a thing it is a limited resource.
If someone owns a piece of land in a city it doesn’t matter what they are currently doing with it, even if they do nothing with it, that’s wasting potential that someone else could be doing with it and affects everyone around that piece of land.