An increase in the tax of the land reduces the purchase price of the land.
It's the exact same thing in reverse with interest rates over time. As mortgage interest rates drop, the monthly payment is what people look at, so home prices go up.
It's the exact same thing in reverse with interest rates over time. As mortgage interest rates drop, the monthly payment is what people look at, so home prices go up.
As the land value will always be zero, there is little value in holding land that you are not using productively, so speculation will drop heavily.
You say all this as if there isn't any meaningful supply-and-demand to be had in the secondary market.