You may not like what he said around WW2 but anyone who recently moved to the Bay Area will love his take on landlords, from 1909: > Roads are made, streets are made, services are improved, electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains -- and all the while the landlord sits still. Every one of those improvements is effected by the labor and cost of other pe…
Property taxes? At least where I live, land values are assessed annually, and the owner is obligated to pay a percentage of that value. Those tax funds are used for the very improvements mentioned, as well as usage-based utility fees for the services.
Ignoring the built property, land is an asset that basically doesn't decay with time, can't be physically carried away, provides its own storage and there is always someone who could be using it (in cities). Most of the value isn't in the land either, it is the services, infrastructure and community around the property that create the value.
Almost all other assets decay if you don't use them. That enforces a level of equality in the long term, where effective owners can out-compete ineffective owners, because assets are usually replaced every 20-30 years in a Ship of Theseus style process.
It makes sense to have a 1.25% or thereabouts annual tax on land, so owners essentially have to repurchase it once a generation. We shouldn't allow the system to reward people because their great-grandparent bought property. We should reward them because they are responsible owners of that property, contributing to their community or somesuch to the point they can pay that tax.