I think it's a great idea. Actually because of it we had one of the greatest schemes ever pulled off in this state.
About 3-4 hours driving way up in the White Mountains, there's a small town called Eagar, which has like 4k people living there. Well the high school was tired of the weather, plus cost to maintain the football field and track. It's at a high elevation and gets really cold and snows. The school board got together, and somebody figured out that a large utility company actually paid over 90% of the property taxes within the district.
So they decided to put a referendum on the ballot to increase property taxes or mandate a one time to payment to build a brand new domed stadium for the high school. The first and I think only one in America. Of course the utility company tried to stop it, filed lawsuits, etc. But in the end they had to fork over I think 9.5 million of the 11 million it cost to build. This was in the early 90's.
So if I pay a little more in property taxes because it goes to the school, then I'm good with that.