There are ways to address value being subjective: use an incentive compatible revelation mechanism. E.g. http://radicalmarkets.com/chapters/property-is-monopoly/ where the property-owner appraises his own property, pays a fraction of his given value as a tax, and anyone can buy his property at the appraised price.
Whether it would be /accepted/ is another matter. But it's not impossible in the squaring-the-circle sense.
Whether it would be /accepted/ is another matter. But it's not impossible in the squaring-the-circle sense.