What you're describing is how property taxes already work. If the land value rises (however unlikely that is) most property taxes are based on assessed value which would increase your tax bill.

Land value rises? I would think noise and traffic decreases it.

Unless you're talking about commercial property, which has more value than residential property.

Where commercial property has more value due to more foot traffic, the closest residential property gets value too.

Very few Americans own land, and very few would benefit from such a land value rise.

He who owns a home, owns land (unless some other arrangement is made??)

It's very different. If you own a home next to the stadium you will likely loose out because every match day is a hell day for you (gridlock, noise, pollution) and the construction traffic will also be horrible. The money you will get for your house will likely be less than the money you will get before the stadium comes. On the other hand if you own a few "lots" or a strip of land near the stadium then you will make much money - a simple play is to turn the tumbleweed into parking, and sure as eggs are eggs you'll get $20 + per car sized space per match, which is a lot more than little or nothing! More investment and you could put cheap 5+1 development there, the retail can be focused on food and fan shops, the apartment will appeal to incomers.