Or increase the cost of the houses that they build on that taxed land. You live in fairylandlol
Its LVT = its a tax on land. Now what happens to land that is empty and not built upon? That's taxed as well so more land will become available to be built upon. Why? Simple landowners can't sit on empty land cost free anymore they will pay the LVT as a holding tax and with no income coming in as the land is nit built on they will sell to someone willing to build on it and get a return.