Oh I agree 100%. There should be a full reassessment every4-5 years, with an interim update every year based on comparable sales in areas where enough sales occurred. If not enough sales occurred, use a more neighborhood specific version of a CLR

This would even out the burden, and negatively impact long time home owners in areas where values are rising.

So along with this would have to be some changes to the homestead exemption. Maybe increase the reduction based on years you have owned and occupied the home.