[jamesmaniscalco]

> If property values in my neighborhood go up will I be forced to sell or refinance my house to pay the tax bill?

Pardon my ignorance, but isn’t that how it works (outside of California)? My understanding is that in almost all US tax districts, property values are assessed periodically and the tax liability of the owner changes year on year with the value of the property.

[kentonv]

Sure, but property taxes are usually in the 1%-2% range, whereas capital gains taxes are currently in the 15%-23.8% range, with proposals to increase them to 28.8% or even 43.4%.