[trylfthsk]

The consequences of having zero property tax are (maybe unintuitively) extremely awful. Ignoring all of the arguments regarding commons and market liquidity, you essentially cede enormous amounts of power to large landholders who can cheaply (relative to the average citizen) monopsonize local real estate markets.

EDIT: Maybe in practice oligopsonize, but either way on a long timescale you can say goodbye to widespread freeholding.