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 property tax goes to the maintenance of the city services you use.  (where does your poop go?, how do you get water?,where does the storm water run off from your property get dealt with...). unrealized gains does what? 
 Must be different in different places. Here in ES for example, there's 'alcaldia', and where I'm from in the UK there's 'council tax', which are fees you have to pay for local services like that. But afaiu that's not the same as property tax. Perhaps I'm wrong; in the US for example, is property tax like that? Or is there a separate charge for local services? 
 No idea about the US but in one of your colonies North of the US.  our property tax gets split and half goes to the province and half goes to the municipality.  The municipality then has to deal with the services.  I made a bad assumption thinking the west was similar. 
 Yeah it's really confusing actually