I agree, some accommodation should be made for bubbles. Perhaps the rule should be, not that you accumulate unpaid tax every year based on the difference betwe

I agree, some accommodation should be made for bubbles. Perhaps the rule should be, not that you accumulate unpaid tax every year based on the difference between what you paid and the assessed value as of that year, but simply that the assessed value is retroactively considered to be the average of the purchase price and the sale price. This would penalize windfall profits, where the market takes a sudden leap and then you sell, but would provide some protection against bubbles.