Property taxes are not land value taxes, and there's a difference between a halfway land value tax and a full on land value tax where 100% of the natural rent o

Property taxes are not land value taxes, and there's a difference between a halfway land value tax and a full on land value tax where 100% of the natural rent of land is collected (that is, all the external value generated by the surrounding community is harvested by the government instead of rent seekers). It helps to know how (to simplify) a land value tax is assessed. The gov buys random property, demolishes the building, then sells that property on the open market and uses those data points to calculate a gradient. Then an arbitrarily high tax is imposed on the calculated value (e.g. 100%). It (in the long run) doesn't matter how high the tax is as long as it is high enough to capture all land rent, given current market assessed land values, since the price of land will simply adjust to the higher tax (a 400% tax could easily be levied). When such a tax is levied, no one will buy land except those that have a use for it, that is no land speculation/monopoly can occur. If you have more questions I would recommend asking e.g. the georgism subreddit.