The idea is to tax on income..income gets spent. You earn more and get taxed on "new income".

The concept of taxing what's already taxed has some perverse effects.

I concede though that property tax in the U.S is just a way for local authorities to be able to fund schools, and other municipal infrastructure. It remains odd though that most countries do have local taxes, but summing to a fraction of what a ~1% tax every year may represent. As it's a small percentage but on the most valuable and critical asset one may have sacrificed during his life, to own a roof as primary residence.