There is a possible objection to Georgism: "what if I bought a house, and it's value have risen, so now I can't afford the tax?" I thought about a simple solution, and would like to read thoughts about it: instead of taking money, the state could gradually own more and more of the property. When the property owners dies and their children are adults, the state will sell its share of the property or take its worth from the inheritance.
My understanding is that under Georgism the state is supposed to be payed for value increases, not for usage. And that it can't just kick you out and put someone else in a long as you pay its honest estimate of the value increase. So it is still not the same as the state owning a land and being able to sell it to the next user.
Right, missed that it makes your being there renting. How fast would the spiral be in your estimation? How fast would you lose the house in normal circumstances? By the way, I'm not sure that the tax is universally less than the rent. My understanding is that land speculation in Israel is mostly about expeting the prices to keep going up rather than the current rent.
1RamblinDash
This is equally applicable under normal law, under which property taxes already exist, they just tax both structures and land instead of just land.