Actually in my country, your primary residence is exempt from property tax. Note that this isn’t transitive - you don’t get the tax exemption from your tenants’ primary residences that you own and they live in if you’re a landlord. You’re exempt only on the one property you live in, if you’re the owner.
Now a reasonable next step would be to greatly increase the normal property tax.
Make any property that is not a persons primary residence subject to 10x the normal property tax.
Problem solved.
Pretty much.
Actually in my country, your primary residence is exempt from property tax. Note that this isn’t transitive - you don’t get the tax exemption from your tenants’ primary residences that you own and they live in if you’re a landlord. You’re exempt only on the one property you live in, if you’re the owner.
Now a reasonable next step would be to greatly increase the normal property tax.