I've had the same idea, but with no property tax on ownership of a single dwelling place.
If the burden is lessened to have your own place, hopefully we could see less homeless on the street or living in cars when times are tough.
However if you have more than one, then you pay significant property tax on all of them. I would hope that could free up more places for more people getting a home.
But of course if you earn more than $180k a year, I guess you could afford some property tax.
I am also thinking foreign ownership of property should be taxed heavily. I know that is not popular, but honestly if you not living full time in the country then you are effectively taking up a spot for someone who needs a place to live.
That sounds like it would penalize renting in favor of homeownership. I'm not in support of that, renting offers people flexibility and is not inherently worse than owning.