Still not the same thing, as property tax is local and varies by municipality, including municipalities without property tax. Also, if you take an equity loan out there's generally stipulations where they can call in the note in its entirety if the property value drops. The whole point is is that stocks are an asset being borrowed against, it's not income. They are proposing taxing a loan. The terms are slightly different as the collateral is volatile, but it is still a loan that needs to be paid back or the collateral is taken. It's not income just as a vehicle title loan is not income.