As to to the question you answered, I could understand land value taxes, or some other forms of taxes that are actually based on the infrastructure cost for supporting your home. (And you could add exemptions/tiers for people who can't afford it, that's beside my point.) But property taxes seem nonsensical for exactly the reason you mention: that they depend on the value of the home (at whatever point) rather than on the cost of the infrastructure itself. Whether my home sells for $1 or $1M, my pipes and wires are going to act the same. And neither of those tells you anything about my means for payment - I could easily lose more money on a more expensive home.