California

Back in the late 1970s (it was passed in 1978) house prices in California were going through the roof. The rationale behind the proposition was that it would put a 2% cap on how much house assessments could be raised each year, and set the property tax at 1% of the assessed value. Yeah, I bitched when we bought this house and saw that my neighbors were paying a fraction of what we were. Now that we're retired and in my 70s, it lets us stay in the house: the assessment and hence taxes go up every year (and there are the "extras" such as water district assessments and parcel taxes) but the rise is capped and predictable.