But property usually isn't taxed. Trading is. If you license a patent to someone else for $500/year, you'd pay tax on that $500. But if it's actually worth more, of course you wouldn't charge such a low fee.
Property is almost always taxed. In Texas, property taxes on homes are 2.5 - 3% of value, most people pay between 8K - 30K every year. And this keeps going up! Over a 30 year mortgage, I'm sure most people pay more on property taxes than on their home. Approximately 50% of property taxes go to school districts, the rest for other municipal services.
Some states also tax car as property.
What is not taxed is Intellectual Property. Because it is almost completely owned by the super rich. And, of course, these billionaires need all the help they can get. How about we change this? We can think of wiping out property taxes for homeowners (making homes affordable) and fund education from patent taxes. After all, the super rich are deriving these patents from the education system, its only fair they pay their fair share.
