5% less kids started school in Paris this year. FIVE percent, raising costs of rent are said to be one of the factors - can't say I'm surprised, our rent increased by approx. 10% in 3 years.
Ive been in my current house for 4 years and property tax has gone up about 25%. And during this time, I had to sink about $5000 to fix my roof, and $3000 to replace the washer and dryer which broke a year after I moved in.
The reason why property taxes go up a lot even though every city will have some ballpark calculation like homeowner property tax is 1% of value is because government property appraisers run around and assess everyone's home and spit out a value. Then it gets multiplied by the rate.
To be transparent, the value they appraise is always much lower than the market value (at least here it is), and the home appreciation will always be 10x bigger than any property tax spike, however, unless someone sells their home it's still a cash flow grilling. Me, I dont care. I can pay the extra $1000. But some people are tight and you cant expect someone to just eat it because their home value gone up so who cares.
That's like Mcdonalds whose property values go up a lot (watch that good movie with Michael Keaton playing the McDonalds guy) not being allowed to raise prices of food if they can balance it out with their plot of land going up in value which they might sell 40 years later. Not the same thing as McDonalds head office tried to control franchises land, but if a restaurants owned their own land it is the same thing.
The goal for most landlords is to have monthly rent balance out monthly costs (mortgage, utilities, condo fees, property taxes (split by 12) etc...). No landlord wants to purposely be in the hole cash flow negative if they can help it. Be cash flow neutral or on the plus side.