Taxing people's assets are complicated. But not because of houses. There are large portions of the U.S. where people are taxed based on their house value. Lik

Taxing people's assets are complicated. But not because of houses. There are large portions of the U.S. where people are taxed based on their house value. Like in Houston where I pay ~3% of the value of my house every year in taxes. The real tricky part is small businesses. If I run a small software consulting business or own a bar how much is that worth? Is that the value of the software consulting business with me or without me?