Comment by kiba

What do you mean by monenization scheme?

Land are worth something because it's undertaxed. If you tax land high enough, the price of land is zero. This means you don't have to take out a loan to buy the land, but maybe you need to do so for the building. Lands in cities are often high enough that they exceed the value of buildings. So, land price being zero save you money up-front, but you have to pay higher taxes on the land.

The improvements are naturally depreciating assets. Your house, much like your car, fall apart over time without maintenance. Ideally, you aren't taxed on improvements.

So, in a properly functioning market, you can buy property, but it's depreciating in price all the time, while you are left with a tax bill on the land. Each time, land value roses, you are left with a higher tax bill every year.