Most land I bet is leveraged (hence the high price!) and taxing it will put pressure on home owners and investors. It is great for the truely rich who have a $50m mansion because it is chump change and will pay $375k which is approx zero but for someone with a typical house $1m it is $7500 which is less money for food and other household expenses and they may be paying a big mortgage already and not rich in the true sense.

Taxation ain't simple. There are always second order effects.

I am not against land tax but using it as a kneejerk levy could have unintended consequences.

Instead taper onto a reasonable land tax. Just raise taxes if you need more money in a fair and progressive way.

Of all the places you can avoid flight from to avoid tax California must be the easiest.