land taxation

Land taxation refers to the system where governments levy taxes on the value of land owned by individuals or businesses. This tax is typically based on the estimated market value of the land without considering any buildings or improvements on it. The revenue generated from land taxes is often used to fund public services, such as schools, roads, and infrastructure. Some advocates argue that taxing land encourages more efficient use of land and can help reduce speculation, while opponents may see it as an additional financial burden on property owners.