> we illustrate how conventional property taxes punish those who improve properties and invest in the city by providing housing and business, while those who own vacant lots or surface parking lots are rewarded for holding land out of use.

The reasoning makes no sense applied to land value tax though: people improve properties for their own profit, and the land value (on which the tax is raises) increases slower than the value of their own property so they aren't being deterred by the land value tax. People who don't invest on the other hand don't see increase in their profit while their taxes increase because the land value is being pumped up by those who invest.