Yeah, if property taxes are the only taxes I see your point. But when you also have sales taxes or value added taxes, chances are the billionaire is living a l

Yeah, if property taxes are the only taxes I see your point. But when you also have sales taxes or value added taxes, chances are the billionaire is living a little more exorbitantly than the regular guy. If you want to get more progressive than that you can introduce luxury item taxes. More importantly though, the brunt of the tax burden is still resting on the higher value properties. If we decide that progressive means "pays more of a percentage of their wealth/income" then you're right, but if we decide it means "most of the overall tax burden falls on richer people" then it is still more progressive than income tax schemes that exist now.