Not the same market -- in some saner market somewhere else. That's the whole point of the exercise.

So the goal is to make the poor go away, in a place that will have less economic opportunities ?

No, the goal is to make rich go away, and make poor have a place to live where they have more economic opportunities. If you cannot afford to pay $1k/month property tax, it means that you have an asset worth around $1M, so by no means you are poor.

If you cannot pay $1k a month in taxes, you probably cannot rent the place, either. The taxes driving the owners away will drive the renters away, too.

Sell the asset then, simple as that.

I don't consider anyone with 300k in net worth poor. And the goal is to not subsidize these individuals who have just had a massive windfall, which screws up the rental market leaving the truly poor(renters) SoL.