A repeal is hugely unpopular amongst many, since it would destroy house values and immediately make houses unaffordable for many owners on borderline incomes. You could try phasing it in, but housing values would take the change into account quickly, depending on how it's structured. Would be great for renters looking to buy, but catastrophic for recent buyers. That said, property taxes are very important as a feedback loop to discourage nimbyism that drives up prices.