We’re constantly told you can’t tax billionaires on unrealized stock gains because “it isn’t real income until they sell.”

Then why are homeowners hit with higher property taxes every time their house appreciates?
I haven’t sold my home. I haven’t pocketed a dime. The increase exists only on paper.
Yet the tax bill still climbs as if I’ve already cashed out.
Funny how “it’s only unrealized” becomes an ironclad principle for financial assets, but somehow doesn’t apply when it’s ordinary people footing the bill.