Not sure if you realize this, but most businesses and nearly half of residents pay exactly such a tax. It's called 'rent' and is based on a 'market rate' which is exactly the amount that could be earned. They get kicked out all the time! That's actually what created the political demand for LVT!

You even pay rent when you buy a house. The value of the land is the market expectation of the value of future rents.

You can have a less than 100% LVT to get some of the advantages without upsetting the apple cart. Common in many jurisdictions.