Now the US is way ahead of the game here compared to Europe. There are no property taxes in most of Europe and families hang on to their homes for generations.
I know for a fact (through living here) that Denmark and probably the rest of Scandinavia has property tax and inheritance tax -- holding on to family property is almost as expensive as buying new property.
Which part of Europe are you referring to? I once had Greek colleague who complained about having to maintain three generations worth of houses, so that might be one place where things are as you describe?
Right, Europe is bound to be diverse on this point. I have exposure to Balkan countries and the UK (which, while they do have non-zero rates, still have them far lower what I'm used to in New England).
I think you can argue migration (forced) through history is tied to this. The US was a recent star in growth due to free land. But there is no more free land. And Mars does not fill that role. We need to disempower rentiers.
Wouldn't this just reduce land entitlement for those who aren't wealthy enough to afford the new taxes? I think something like taxes that apply for people who own more than 1 property would be better.
I mean, we can solve that problem by a 100% inheritance tax so they don't leave an obligation. No? Then maybe let's skip arguing in sound bites.
Personally, I think the answer here is a continued and ongoing land tax. Occupying land should come with an expectation you contribute to the common good, because you don't "own" land. It's a shared good, just like air and water, and you should pay for use.
Primary residences should indeed not be subject to an inheritance tax - if they are continued to be used as a primary residence. Providing an ongoing home for a family unit[1] is a societal good, we shouldn't punish it.
[1] Definition of family is a hairy problem for another, longer post.
I know reasoning skills are hard, but here, let me help you: OP posted a snarky comment. I proposed a policy. Feel free to bring arguments debating the policy.
The point is reduce land entitlement a little bit. Yes, there's going to be some light incentive to cut loose and that's OK.