I think GP was talking about property taxes. Even the US has tax free capital gains up to a limit. No capital gains isn't necessarily a great system either. It

I think GP was talking about property taxes. Even the US has tax free capital gains up to a limit. No capital gains isn't necessarily a great system either. It leads to people treating their primary home as a retirement savings vehicle. Taxing inflation-adjusted capital gains on home sales is a sensible compromise. And maybe also allowing the gain to be divided over years of ownership.