Except that voters in California effectively did decide that, with Prop 13. In other states, property tax is effectively a liability for the owner. Texans pay roughly 3% of the current value. That is a lot-- keep in mind that mortgage interest is only slightly higher than 3% (and loan is based on the initial purchase price, ie it doesn't go up like property tax). In California, Prop 13 is essentially an entitlement for the owner, who only pays roughly 1% of the value, and that value is not increased along with the market (only tiny increases are allowed).