Identical means same sales price, in which case they would pay the same.

It’s not fair to repo paid off property because taxes spike due to comps.

If most buy a house at the same % of their income then the taxes stay commiserate with their salary.

If young people can’t afford the tax then they don’t buy and that corrects the home value.

Assessing and taxing unrealized equity is sounds ridiculous and a cap gains tax at sale should be favored over taxing equity.