If your property taxes are indexed to assessed value (which mine are), it also means your property value is going up. So double taxes would mean double value of home. It just means that at some point you may need to sell your home and downsize, pocketing a nice profit on the way out.

Unless prices fall in the future, in which case you’ve paid a lot in taxes every year and never get any benefit from the temporarily high valuation.

Very true

I agree with you in general, although I think the home prices probably overstate the case given the huge value transfer from commercial to residential real estate for work-from-home purposes. Not that I think we'll go back to anything like the pre-pandemic distribution, but it'll be interesting to see where it nets out when the dust settles in 4-5 years.