LVT changes #2, because the ongoing tax cost of putting a new high rise on your empty plot of land is no different than it being empty or it having 4 single fam

LVT changes #2, because the ongoing tax cost of putting a new high rise on your empty plot of land is no different than it being empty or it having 4 single family homes. The property tax bill make having a single family home an expensive luxury in dense cities because of the high land tax relative to the amount of improvements on it. In our current scheme, improving property is disincentivized because it increases your property tax bill with reassessments. Or am I missing something?