I favor @interfluidity twist (I think) of treating property tax as option price. You can assess property at whatever value you like and pay tax rate (say $10 at 1% of $1000 claimed value for an SF mansion). Trick is you are required to sell to anyone who says they value it higher
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One concern is that loss aversion (borne out of sentimentality?) may cause significant overpayment of taxes. (This may be best solved with something along the line of a CLT)
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Why is that overpayment? It is a sentiment premium. If the land has a temple sacred to your religion for example, pay enough to insure you’re never bought out. Nice thing about this it can price the priceless. You could even secure nations this way.
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