It's not that simple when the plot of land is developed, because you can't build an expressway without also buying whatever structures sit on that land, which aren't rateable for an LVT and may genuinely be worth much more. Holdouts argue the lot is the same low value land it always has been for LVT purposes but they want $10m to sell their beautiful ancestral family home that sits on it...
A traditional property tax rating encompassing the value of the lot and everything that sits on it works much better for compulsory purchases.
A traditional property tax rating encompassing the value of the lot and everything that sits on it works much better for compulsory purchases.