Means testing can be either income or wealth. Some countries prefer one over the other (the US prefers income, while the UK prefers wealth), and they have their

Means testing can be either income or wealth. Some countries prefer one over the other (the US prefers income, while the UK prefers wealth), and they have their upsides and downsides. I’ll note that most tax progressives don’t consider “billionaires own many houses” as being “more heavily penalized”. A progressive tax results in a higher rate not just a higher amount. Other proposals here of “only one first home”, are a good example of making property tax progressive. Note: I added an edit to my original comment, since billionaire was distracting. If you move this down to high net worth individuals, it is a significant group of people in California.