[01HNNWZ0MV43FF]

First institute a land value tax. If you have a regular property tax you are going to get speculators, and then eventually vacant lots

This is part of the housing supply mystery. It's not very profitable to build housing when you are punished for building upwards and making good use of the land

[seanmcdirmid]

Some states are biasing property taxes more toward land value to get some trade off. The problem with a pure land value tax is that you can be forced to sell your home ir redevelop (if you can afford it) if your land value appreciates over time (this should happen eventually, but will happen perusals too quickly with an LVT). Also, services (schools) rendered with property tax money scale as more people live there, and if you go for pure land value, you wind up with some whacky rates to support schools.

[gottorf]

I'm a big proponent of LVT, and even bigger of gradually replacing most taxes with LVT, but the great thing about being a billionaire is you can just buy up a whole town and develop it as you see fit and not have to worry about speculators engaging in rent-seeking behavior.