Actually all Australian states and the ACT have land taxes in lieu of property taxes https://business.gov.au/finance/taxation/taxes-on-your-prope....

I think ACT has no thresholds, whereas NSW for example you could own a $5m primary residence and rent it out and maybe 4 $1m appartments (whose land value will be low) and rent those out and pay no land tax. So you can be rich from property and pay no land tax.

It would kick in for larger landlords though but they could avoid it somewhat by having a property in every state.