OK, I’ve been cooking this idea for a while, curious to get others thoughts. What if we applied a nominal real estate tax, but applied a differential rate to r

OK, I’ve been cooking this idea for a while, curious to get others thoughts. What if we applied a nominal real estate tax, but applied a differential rate to real estate that’s used for rent seeking? i.e. if you rented your property for N/60 of the previous 60 months, you’re taxed progressively and exponentially. I know this would depress real estate prices and reduce the volume of housing available for rent. This is the goal: I want property to be owned by local residents and affordable to local residents, because I think it makes better communities and citizens. Can you all help me poke him in this idea?