I think you misread the bill.  (I see $1,500 noted as part of a reference regarding Mainland per-student costs.)  In any case, it would be very difficult to set real property taxes based on the level of rent, and while apparently many people would really like to tax out-of-state homeowners, it’s my understanding that they cannot be segregated in that manner for purposes of the real property tax.  This proposal should be shelved.