The first $10,000,000 worth of land owned by any person and or organization shall not be taxed. Any property that exceeds $10,000,000 will be taxed 5% per year for all remaining property above $10,000,000.
This incentivizes the ultra rich to sell any property they have that exceeds the $10 million mark also making land cheaper and more available for everyone else.
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See Repeal of the 16 th Amendment.
There would be no Property Tax without this Amendment. The 16th and 17th are the only two Amendments that reduced Citizens Rights and Protections.
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The only reason property tax is a good idea is so one person doesn’t end up owning half of the land in America.
And the 14th Amendment, that was never ratified by congress, and creates us all to be debt-slaves.