Florida bill would eliminate all property taxes

Oh, you mean like sales tax?

 

Did we find a bill universally disliked by everyone on Too Hot? There's no way

 

Replacement cost /=/ market value.

A shoebox in downtown NYC is worth more for resale on the market than a 2000 square foot home in rural Montana. The latter will cost more to rebuild but the former will sell for more.

Rebuild cost is based largely on construction cost, which is mostly susceptible only to inflation; the market value is much more volatile, due to being based on supply/demand, cost of living, etc. That's why the past 5 years, construction costs have only increased 10-33% (at most) while market value of homes have increased 100-300% in some areas.

 

A sales tax under another name.