"It does not seem to be working to well if you live in Taxachusses."
In any other case I would agree with you, but the 2.5% limitation on property tax increases (sans voter override) has worked spectacularly. Naturally, the politicians were and are against it, as they cannot raise property taxes at will. We were only able to vote it in as a referendum (Proposition 2 1/2 that passed in 1980 I believe). I will go to my grave thanking Barbary Anderson of the Citizens for Limited Taxation, which pushed the referendum through to victory.
If you look at nearby CT, you will find that their tax rates are atrocious, as they are in most of the Northeast (and probably elsewhere). For a fifteen minute extra drive, I save about $3000! When I got my first mortgage, the company, based in NJ, thought my yearly payment was actually my quarterly payment because it was low, and we had to redo all the paperwork! Of course, it helps to have a town full of tightfisted voters........ ;-) Town meetings are VERY entertaining.