In total taxes stay the same (for an area), with empty land tax increasing, land with property decreasing (because the property taxes disappear, and land tax increases proportionally to result in the same total tax).
So it will impact different people in an area, with different situations, differently obviously.
But you are clearly right, there will be additional factors that need to be handled.
The umbrella principle, is the law should simply correct a market's oversight of external/commons costs and needs, in proportion to their real value. Then the market can do its job of optimizing resources properly.
Things like farming practices that impact land value, should be incentivized or disincentives in direct proportion to the real value being lost or gained.
(Another addition would be that any tax change impacting investments already made, should transition over a time interval long enough individuals and businesses to realign their private economics, without sudden hardship.)
In total taxes stay the same (for an area), with empty land tax increasing, land with property decreasing (because the property taxes disappear, and land tax increases proportionally to result in the same total tax).
So it will impact different people in an area, with different situations, differently obviously.
But you are clearly right, there will be additional factors that need to be handled.
The umbrella principle, is the law should simply correct a market's oversight of external/commons costs and needs, in proportion to their real value. Then the market can do its job of optimizing resources properly.
Things like farming practices that impact land value, should be incentivized or disincentives in direct proportion to the real value being lost or gained.
(Another addition would be that any tax change impacting investments already made, should transition over a time interval long enough individuals and businesses to realign their private economics, without sudden hardship.)