It is a beautiful philosophy, but the issue with a land tax is that it is regressive, meaning the poor pay a larger portion of their income than the rich. If you look at detached suburban homes, from 100m² single floor starter homes to 1000m² mansions, the size of the lot is about the same. If you look at high density urban housing, a skyscraper full of luxury condos uses less land per occupant than cheap multi-family homes.

It seems to make the most sense in Soviet style ultra high density housing where the poor live 4 to a shoe box while the rich have luxury country estates.