Individuals owning large swaths of land and not doing anything with it is bad for both the economy and for social welfare. No one person needs to own hundreds of acres in the middle of a city. Property taxes prevent that from happening. Imo it should have a minimum amount of area before it gets taxed, to make life easier for small homeowners, but the rich dude who buys the lots next to his house so he doesn’t have to live near neighbors? I’m fine with him having to pay extra for that.