Doesn't this presume that all property is taxed at a flat rate? Wouldn't the answer be to split the property based on what the city wants to accomplish? Then empty land can be taxed at a different rate to property with a residence on it (or whatever priority the city would apply).

Check out all the different tax rates that Wellington, New Zealand applies to a property [1]. I count 50!

[1] https://wellington.govt.nz/property-rates-and-building/rates...