And don't just tax land / improvements that the corporation owns; tax property the corporation benefits from. For example, Apple has 300,000 employees in China. They must show up some place to work. So if California taxed that real estate because of the benefit Apple gains from it and uses to sell phone in California, the Chinese dirt/building/roads etc. should be subject to California tax.
Yes, I know that sounds crazy to people reading it on FR, but we are not the audience. Government in California is the audience. And I bet this all makes sense to them.....
do you know if it’s legal for a state to tax out o stet property
If they want to tax corporate real estate only, then they should tax real estate the corporation relies on in other jurisdictions. That way they can avoid having a California company move out of California to some place else.
That will still give the exact same level of incentive to leave California for another state.