Doot Doot Bandicoot on Nostr: I'll concede that the purchase price of your assets affects the calculation of an ...

I'll concede that the purchase price of your assets affects the calculation of an unrealized gain, but in my mind this makes the unrealized gain tax less intrusive than a normal property tax. It's essentially a property tax with a write-off.

At any rate, the justification of a property tax that you're using is fun philosophizing, but the revenue that property taxes generate go into the same pot as any other tax. The state isn't demarcating police or firefighting services and saying "property taxes pay for this, income tax for everything else".

You can believe in a land value tax or something as a justifiable tax, but that isn't exactly what a property tax is, since improvements you make to your property increase your tax liability. If you're justifying a property tax by pointing to government services that you consider legitimate, that's fine, but this works for any tax, so it's really a non sequitur to talk about property taxes like this.