[harryh]

I'm glad you've come around to my p.o.v. on property taxes!

The pros and cons of a mark to market capital gains tax are pretty far outside of the scope of this thread, so I will save my thoughts on them for another day.

[scarface74]

It’s the same concept. You want to tax illiquid unrealized wealth that may force people to sell the underlying illiquid asset to pay taxes.

[harryh]

I already covered this way upthread. Property taxes aren't wealth taxes, they're consumption taxes.