Just before we moved here, Proposal A allowed people to vote to cap the amount that property taxes could rise each year. Of course it was voted in. So the fact that we have lived here for 31 years means that our taxes (based on the assessed value) have increased MUCH less than the value of the property. When property is sold, the property is taxed at the new assessed value.
What has this done? Saved hubby and me and anyone else who stays in their home for a long time a ton of money. What else? Cost the state billions in revenue for schools and services.
There is a movement now called "Ax MI Tax" that wants to get rid of property taxes. I saw a woman with a petition, looking for signatures to get this as a ballot proposal. I asked her what the plan was to replace the funding for schools. She told me, in essence, schools have plenty of money, they just are wasting too much.