Land Value Taxation

Land Value Taxation (LVT) is a system where property taxes are based solely on the value of the land itself, rather than the buildings or improvements on it. This encourages more efficient land use, as property owners are motivated to develop or sell unused land rather than hold onto it. It aims to reduce speculation and make housing more affordable by discouraging land hoarding and promoting development in desirable areas. LVT is seen as a way to generate public revenue while fostering economic growth and reducing inequality.