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America's housing shortage is keeping home prices high
(www.axios.com)
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Honestly I'd scale it. There's a lot of people who don't sell their first home when they move into their second and it's helping them financially to rent it out. I don't want to go after these people...
Raise the tax per every house you're doing it with. Make it prohibitive at scale.
That's not a bad idea. Tax rate is X. First house is X. Second house is XY, third house is XY*Y, etc.
Problem is property rates are usually city, county, state so you're not going to see consistency between them.