Property tax is tax on rentier capitalism. Since you can't make more land, owning land is always getting monopoly to land over others. Milton Friedman tax on u

Property tax is tax on rentier capitalism. Since you can't make more land, owning land is always getting monopoly to land over others. Milton Friedman tax on unimproved value of land as the "least bad tax". Any property tax is less harmful than tax on income tax. Adam Smith, writing in The Wealth of Nations wrote similar stuff.