Land Value Tax

Land value tax (LVT) is a tax based on the value of land itself, rather than the buildings or improvements on it. The idea is that land's value often increases due to community development and public services, not just individual effort. By taxing the land, it encourages efficient land use, discourages speculation, and can help reduce inequalities in wealth. Unlike traditional property taxes, LVT does not penalize property development, making it appealing for urban growth and sustainability. It aims to ensure that the benefits of land ownership are shared more equitably in society.