The key to this working efficiently is responsible planning and zoning. Single family dwellings / 1-2 story housing is not likely to be viable adjacent to growing urban areas. Zoning should reflect this. This disincentives building single family homes in these areas, since taxation will be based on the fact that the lot could house a.32 unit condo, minimum lot sizes also reflect that planning, so property taxes would become quickly onerous for a single family home. If you want to live in a city, you should be amenable to living in a higher population density dwelling. I would imagine that for people that like their location, development deals that include a ground floor or penthouse apartment in exchange for part of the land value to a developer would become part of the norm. That way you can step out of the way, live somewhere else for 6 months and come home to your new flat. OTOH if you are just rich and stubborn, you can just pay the taxes.. but that will curtail the value of the home to a reasonable level. The current system rewards instead of penalizes homeowners for standing in the way of progress. At least tax revenues can be useful to the community.