That could come quicker than having to survive another dip into recession and another fear-filled wait for that recession to reverse into another recovery.
But should circumstances change and inflationary pressures start to build on the back of an accelerating economic recovery, the Fed has said it would be prepared to reverse the downward trend in interest rates without much delay.
If they want to reverse the property tax numbers, cities could try to rush a housing recovery or push through the mountainous political battles of raising rates. (In California, they would need to move mountains.) Or they could just borrow the money.