You have to decide if what you want is to provide people housing or want to raise revenue to do wealth redistribution. IF you add a tax to owning a property, y

You have to decide if what you want is to provide people housing or want to raise revenue to do wealth redistribution. IF you add a tax to owning a property, you make it less interesting for people to buy housing, since it will be sold for less, and thus creates less supply for the future renters.