Despite the fact that getting rid of property taxes is Not a Good Idea, that doesn’t mean that existing property tax regimes are necessarily optimal. Property taxes, after all, punish development because they factor in the value of the house or whatever other structure happens to be built on top.6 Instead of abolishing property taxes, shifting to land value taxation (LVT) would constitute an actual improvement.
In brief, an LVT works like a property tax, but only applies to the value of a parcel’s land (i.e. it doesn’t tax the value of any buildings or infrastructure on top). So, if you own a $350,000 property where the land component is worth $50,000 (and the building is valued at $300,000) an LVT would only tax you based on the $50,000 value of your land.