This is exactly what I was addressing in:
> In practice likely the taxation would apply on a lot by lot basis, so you would have to count your huge land ownership as 150 thousand small lots each with significant unimproved value.
Let's play an experiment: in the middle of nowhere Alice and Bob each own two closeby land lots. Each lot by itself is worth essentially 0 dollars so neither Alice nor Bob pay any taxes on it.
One year Alice builds an hotel on her lot, her unimproved landvalue remains unchanged but Bob's increases to X dollars.
Another year Bob builds a restaurant on his lot, his unimproved landvalue remains unchanged at X but Alice's increases to Y dollars.
Honestly I am not sure how this would handle infrastructure development like a road or a railroad
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For georgist taxation to work you need to set a sensible limit to how big or small a lot can be: an entire city is too big and a square foot is to small.
The possible failure mode of this taxation is that all but the most efficient use of land can become impossible, but right now I believe that the problem of excessive rent-seeking and "parked land" are more critical