Interested in this too. The idea of taxing on the value of the land, not on the improvements seems impractical. Even if we do not consider the buildings/infrastructures on a particular parcel, the land’s value is heavily influnced by its location. e.g. its accessibility to nearby services and improvements. So the tax would either still be influenced by improvements or we tax downtown at the same rate as a removed desolate farm. Then the tax rate would be too low.
The tax is intended to reflect improvements to nearby land insofar as they make this piece of land more valuable. That is fine, since it doesn’t discourage improving this piece of land, and at the same time acts to force those who don’t have a good use of the land to sell it.
Interested in this too. The idea of taxing on the value of the land, not on the improvements seems impractical. Even if we do not consider the buildings/infrastructures on a particular parcel, the land’s value is heavily influnced by its location. e.g. its accessibility to nearby services and improvements. So the tax would either still be influenced by improvements or we tax downtown at the same rate as a removed desolate farm. Then the tax rate would be too low.
This is doable via a number of different methods; see this overview of such methods.
The tax is intended to reflect improvements to nearby land insofar as they make this piece of land more valuable. That is fine, since it doesn’t discourage improving this piece of land, and at the same time acts to force those who don’t have a good use of the land to sell it.