More and more localities are relying on heavily increased real estate taxation to fund their spending.
Consider this too. Maybe you don't really want land that you don't have a constructive use for - the taxes might drain any investment value away.
And for certain you don't want to speculate/invest in some place that has any kind of common-use (homeowner's association) fee. Those can go up sharply too - and when there is some kind of special project there is naturally a "special" assessment (shakedown) of all owners.
Hmmm. Do I seem bitter?
Ken300D