There is a good reason property tax isn't quite like a wealth tax: property tax is used to pay for services provided by the municipality (schools, libraries, ro

There is a good reason property tax isn't quite like a wealth tax: property tax is used to pay for services provided by the municipality (schools, libraries, roads). More similar to the wealth tax would be the so-called https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax that does make the rich pay for "hoarding" land as a commodity, without creating the the disincentive to improve the land (which is a side effect of property tax, which is levied on the value of the entire lot + buildings)