The intention of a land value tax (as this is called) is to zero out the component of property taxes based on improvements, but increase the component based on

The intention of a land value tax (as this is called) is to zero out the component of property taxes based on improvements, but increase the component based on the value of the land itself. Whether this ended up being an increase or decrease in the tax rate would mostly depend on how improved the land was. If the land is very improved, this should end up being a reduction in taxes, and for mostly unimproved land it would be an increase in taxes. The intention is to encourage people who own unimproved land to either improve it or sell it to someone who will. https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax