Taxing “wealth” is NOTHING LIKE a property tax and a property tax is a property tax, not a wealth tax. Property is tangible, stable, and not fleeting while the value of stocks are not.
While stocks, bonds, and other marketable securities are easy to value for these taxpayers
This is nonsense. The value of a stock is easy to value TODAY. But what sort of trickery will need to occur when a stock is valued at $10 today and $1 this time next year? What about the very fact that taxing something like a stock reduces its value just as a matter of it possibly having to be sold to pay the tax?
This is FAR more complicated in practice than you make it out to be. Wealth isn’t “real” and taxing it is absurd. We tax REAL-estate and REAL-ized gains because they are indeed real.