Again, to someone who is not selling their home, there is no "actual value" being increased. It's not like someone is coming around and saying "Hey, your house is pretty run down... would you like $40k in free renovations? Please note that this will increase your property taxes due to the improvements." It's because of supply and demand, and low mortgage rates driving an increase in people buying homes, and the real thing you should be railing against are the habitual landlords buying tons of properties to rent, not the families who own a home that they live in. They are not the problem.
Edit: To add some context to this, there are currently ~28 vacant homes in the US for every homeless person. It's not a matter of there not being enough homes out there - there would be plenty, if every home was owned by one family. Far more than enough. It's folks buying up swaths of land to rent out, and price fixing those rentals, that are causing the problems, both for families who can afford to buy homes, and for people who are renting.