It will hit people at the bottom the most, they are most likely to own under value structures, they are least likely to have funds to redevelop, and are least likely to have funds to sit things out until they can sell at a break even point. A land value tax would benefit corporations more, since they can throw up a bunch of luxury apartments to maximize value utilization to pay the land value tax. Corporations would also be able to buy out at a discount individual owners who are squeezed by the tax.