Property taxes are wealth taxes. The government forced you to mark to market each year and then imposes a percentage tax on that value.
Property taxes are not levied by the federal government for reasons that are partly constitutional and partly practical.
In order to levy a property tax without a constitutional amendment, the federal government would have to apportion the taxes to the states. In fact, Congress did this several times in the 18th and 19th centuries. The way it worked is that Congress determined a revenue target, apportioned that target among the states proportional to population, then required the states to collect money and hand it over.
Congress could do that again, and could subject different kinds of property to the tax... but it would get very ugly, because the tax would have to be apportioned among the states purely on a population basis. A 2021 analysis of Warren's 2% proposal found that different states would have to apply wildly disparate state wealth taxes to pay their apportioned amount. West Virginia would have to institute a wealth tax 20X higher than DC.
This is why Congress has not instituted apportioned property taxes since the Civil War, because they were pretty unfair. The 16th amendment provided a much cleaner, fairer way to directly tax the population... but only on income.
And as for the Article III point... Moore v United States (2024) pretty strongly indicates that at least the current SCOTUS is very hostile to wealth taxes, and not just the conservatives.