This is a solved problem, since many jurisdictions outside the US already have implemented land taxes. For example, in New South Wales (Sydney), Australia, the

This is a solved problem, since many jurisdictions outside the US already have implemented land taxes. For example, in New South Wales (Sydney), Australia, the tax-free threshold is $550k and you pay land tax only for the portion in excess, with a higher tier kicking in at $3.3M. https://www.blgba.com.au/insights/nsw-land-tax-apply https://www.blgba.com.au/insights/nsw-land-tax-apply