But towns revalue every three years. This insures that new owners will be sensibly and fairly taxed using a rate based on market values. But what about all other owners?

Even with no tax increase, if there is a revaluation, thousands will pay much more and thousands will pay less than the prior year, yet the town gets the same revenue! Does this make any sense?

Even worse, many more expensive homes can be taxed less and less expensive homes can be taxed more because in that particular year the housing market said it was the right thing to do!

As the above demonstrates, with revaluation, new owners are taxed properly but existing owners are not. With no revaluation the opposite is true - existing owners pay a sensible tax but new owners don't. Our current system based on market values for everyone is always wrong for someone.

THE ANSWER: REPLACE THE PROPERTY TAX WITH AN OWNERS TAX

With an Owners Tax the tax bill is based on the prior year's tax bill, adjusted just enough to fund the tax levy, similar to what currently happens to tax bills in a non-revaluation year. If the levy increased 3.4%, everyone gets a 3.4% increase.

Since new owners have no prior tax bill , the Owners Tax is based on a current assessed value of their purchase, just as in a standard revaluation year. This becomes their prior tax and their future tax bills will be adjusted the same as everyone else.