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Eliminating property taxes means shifting them to income and sales tax. Taking money that is currently controlled and spent by your local school district on your children's education and putting it into the hands of the state government to spend and distribute as they wish.
I feel for seniors in this position and and there should be a remedy for them (maybe a lifetime cap or something) but not this.
My argument was to pay property tax until you pay off your home. Separate School taxes from Property taxes. If you're child is in school you pay 100% of your tax bill. Once your kids graduate, you pay 50% or what ever reduction makes sense. What this does is continue to support education and allows people to keep their Homes. Their property is actually theirs, not leased by the government as Vader stated. Older couples would see a drastic reduction in taxes and would have a better quality of living.
But that would also reduce education funding! Damn right. there is no reason High Schools should have millions of dollars invested in turf fields, field houses, and state of the art locker rooms. My local High School, the football turf field is the football team's practice field. They pay a yearly fee to have their games in a local stadium. The soccer and lacrosse turf fields were JUST resurfaced after they were built 5 - 6 years ago. The rec center is getting torn down and a new $32 Million dollar facility including an indoor pool is being built. Tighten up the purse strings and live within your means like the rest of us. That 80 year old couple shouldn't have to decide on getting medicine or food for fear of losing their home because a bunch of kids need a new turf field.
I'll step off of my soapbox now. Damn, I feel a bit better.