Let’s think about property taxes. A person can afford to buy a house on some(real)property, could be large property or small and the house could be luxurious or plain. However, regardless of that the owner is taxed on the price of the house, year after year after year as if he/she makes that much money every year. Property taxes are totally wrong and the founding fathers should have recognized that. Paying rent to the government on property you own outright is outrageous and tyrannical. A one time tax, when the property is purchased is one thing, a yearly stipend to the government is totally wrong and should be done away with.
I believe you mean the 'value' of the house in the current marketplace. Since that value shifts, based on the economy, a better solution must be found. One of the most egregious examples of this methodology occurred a few years ago in Lake George. What had been a sleepy village community surrounding a lake, swelled into pricey lake front properties as more and more downstaters discovered the natural beauty of the Adirondacks. It didn't take long before the town realized it could capitalize on their newfound attention. They commissioned a property reevaluation. Suddenly, family properties that had been passed down from one generation to the next, were now subject to new assessments. Tragically, some of these families were forced to sell their properties because they could not afford the increased valuation taxes imposed on them.
Think further. Frequently, to be a voter you had to be a property holder. The theory being that the only people who should be allowed to vote were the people who would be paying the bills. Understanding that YOU would pay the bills for every government activity was an incentive to keep government activity to a minimum.
There is an old adage that democracies fail when the people figure out that they can simply vote themselves bread and circuses and get someone else to pay for it. How close do you think we are to this situation?
Still think the founding fathers were wrong?