A tax on owning too many properties would be subject to gaming. Many large companies already hold properties in tranches of 5-10m worth of properties per limite

A tax on owning too many properties would be subject to gaming. Many large companies already hold properties in tranches of 5-10m worth of properties per limited partnership, so the tax policy needs to be written carefully to disincentivize holding empty properties in a way that can't easily be gamed.