[cucumber3732842]

Nothing inhibits construction like creating a system where all the existing land owners stand to get taxed more if they allow development.

[pydry]

And the land value tax does the exact opposite of that.

If you sit on an underdeveloped plot of land in a high value location your tax bill will exceed your rental income.

The land is worthless to you. So you'll sell up to somebody who will make something of it.