[Spooky23]

Generally no. Values are usually based on sales history.

[throwaway201103]

Value is whatever someone will pay. If Wal-Mart offers $1MM for your land, that is what it is worth, even if the next-best offer is $500K.

[Spooky23]

Only if you sell.

LVT serves a few different interests and is sold as a cure all. Kinda like the “gold bug” of tax policy.