Yeah in the US, almost all property tax is charged on a valuation basis. You pay %1-%2 per year based on the assessed value of your property. If you have a $1

Yeah in the US, almost all property tax is charged on a valuation basis. You pay %1-%2 per year based on the assessed value of your property. If you have a $10 million empty lot, you'll be paying $100k per year, and land hoarding tends to take care of itself fairly quickly in that situation.