When you have the system that we now have, the government removes more and more assets from wealth producing people in two ways: (1) it increases taxes by increasing the value of the real property and (2) it increases taxes by increasing the millage rate.

This rationale is an effort to "hold constant" one of the variables so it will be clearer exactly how much of a burden the government is placing on wealth producing citizens.

The government states that your assets are worth more, but the assets are not producing more money for you.  The government is taking a bigger and bigger portion of your wealth.

1.0.  The value of your land will be the amount of money you paid for it, plus the cumulative yearly amount of inflation.

Each year the value of your land will only increase by the cumulative amount of inflation.  No one will determine the value of your land.  Exception discussed later.  The citizens are continually disagreeing with the Tax Assessor over the value of the land.

1.1.  The land next to yours has just been sold for a large amount of money because the developers are going to build a luxury hotel.  The value of that land will be what the new owners paid for it, but this will not change the value of your land for tax purposes.

2.0.  The value of the structures on the land will be amount of money that it cost to build the structures, plus the cumulative yearly inflation.  Each year the value of the structures will only increase by the yearly amount of inflation.  When you add a room to your house, the value of that room will be added to the value of your house.  No one will determine the value of your structures.  Exception discussed later.  The citizens are continually disagreeing with the Tax Assessor over the value of the structures.

2.1.  The word "value" is used because someone will get his son-in-law to build the room for no cost to the homeowner.  Therefore we cannot use the word "cost".

3.0.  Real Property within the structures.  Same rationale.

4.0.  Real Property Progressive Sales Tax.
 
When the Real Property is sold there will be a Real Property Progressive Sales Tax.  To start the negotiations - say 5 times to 20 times the current millage rate (see the Position Paper on Income Tax Rate).   We can negotiation on whether to have a Real Property Progressive Sales Tax or a Real Property Progressive Capital Gains Tax.

I remember a few years back that there was a battle in court between a landowner and Cobb County over how much some land was worth.  The landowner said it was worth much less than the County said.  The landowner won in court.  A few months later he sold the land for approximately the amount it had been valued by the County.  Under this proposed rationale there would not be a battle.  The land would be valued at the original purchase price plus the cumulative yearly amount of inflation.  When the land is sold the seller will pay a Real Property Progressive Sales Tax.

5.0.  Inheritance, gifts, etc.
The Tax Assessor will have to value the land, structures, and furnishings.  An inherited  painting may be valued at $1 million, and the new owner sells it for $5 million a year later, so additional taxes will be due for 5 years.