Property taxes exist because we want to tax externalities like land use. Taxing fake wealth because you own a company and some VC assigns it a valuation is insane.
Why should you dilute your ownership share just because of some arbitrary number?
Why should you dilute your ownership share just because of some arbitrary number?
So... is owning piece of a productive company "fake wealth"? Is it fake when you can leverage that valuation to have access to more credit and use that to buy real stuff (like property...)?