In the US, you are taxed for the value of your house each year. As it goes up in value, so does your property taxes. It's hard not to be aware of its value :)
In practice the market value of a house and the assessed value of a house (used to determine real estate taxes) are not as tightly correlated as one might assume.
That varies widely from one location to another. In California for example, your statement is mostly inaccurate due to the effect of Prop. 13, which severely limits annual increases in assessed value for current owners.
