That's a theoretical argument that is extremely rare in practice (at least in California). If you want to base your "ideas" of taxes (Do you own real estate?) on edge cases why not worry about eminent domain or property seizures without a warrant or charges being filed?

Why do people who have more income pay more taxes? Why do people with huge capital gains often pay very little? I think a good place to start thinking about these things is reading about why they had to call the Estates General in 1789.