Basically everyone who’s ever paid property taxes has been taxed on value.

Right, but you pay property taxes based on the assessed value of the property, you don't also pay income taxes on property unless that property is actually generating an income.

For example, you don't have to figure how much you could hypothetically rent your home for if you weren't living in it and add that to your income, even if you are wealthy enough to have a second home or summer home or something. It really just sounds like NY should significantly raise the property tax rate for unoccupied residential properties other than a primary residence, especially unoccpied residential properties owned by a commercial entity.

Don't bother. This post is quickly becoming a circlejerk; they're not interested in learning, just bitching and stroking each other off.