It removes profit incentive of reselling land to somebody who wants to use it. It doesn't remove profit incentive of the activity you'd want to perform on that

It removes profit incentive of reselling land to somebody who wants to use it. It doesn't remove profit incentive of the activity you'd want to perform on that land. Land under 100% LVT only becomes an input to production. And makes it unprofitable for holding it for somebody else. When you are in business of making apple pies you simply buy apples as input. You don't need any middlemen holding them for you if you can hold them yourself.