Land tax

A land/location value tax (LVT), also called a site valuation tax, split rate tax, or site-value rating, is a levy on the unimproved value of land. It is an Ad valorem tax that, unlike property taxes, disregards the value of buildings, personal property and other improvements.

Land value tax has been referred to as "the perfect tax" and the economic efficiency of a land value tax has been known since the eighteenth century. Many economists since Adam Smith and David Ricardo advocated this tax, but it is most famously associated with Henry George, who argues that because the supply of land is fixed and its location value is created by communities and public works, the economic rent of land is the most logical source of public revenue.

A land value tax is a progressive tax, in that the heaviest tax burden would fall on the wealthiest. Land value taxation is currently implemented throughout Denmark,Estonia, Lithuania,Russia, Hong Kong, Singapore, and Taiwan; it has also been applied in subregions of Australia (New South Wales), Mexico (Mexicali), and the United States (Pennsylvania).

...
Wikipedia