More than that, any value it has is based on the fact you have to pay taxes in it, by threat of violence.

To be fair, that threat of violence is also the only thing enforcing your claims of property ownership. In its absence you'd have to rely on your community's consent.

I guess that alternative scenario sounds more dystopian the more wealth you have - but with enough wealth you can also imagine having a private security force providing that threat of violence to keep the community in check.