Both of those would be a substantial improvement, yes. At that point, you'd just have an unusual, specialized wealth tax. If you're going to change property ta

Both of those would be a substantial improvement, yes. At that point, you'd just have an unusual, specialized wealth tax. If you're going to change property taxes that much, though, you might as well go all the way to a land-value tax, which would also reduce problems with assessment and improvement.