[snidane]

Urban sprawl is an expansion of a single city as the land in its center rises. It applies to both small and large cities and it doesn't mean people moving from a larger city to a smaller one, unless the smaller city's area overlaps with commuting radius of the bigger city.

Under a georgist system there is no such thing as real estate speculation. Real estate there doesn't cost multiples of peoples' net worth and increase of land tax rate is hardly noticed because the base value of land is a number hovering close to zero. Price for land and tax rate in that system is just an allocation mechanism of geographical area to the most productive use, preventing hoarding. In other assets where hoarding is risky, since inventory can expire (groceries) or go bust (stocks, bonds), speculation by holding inventory is valuable because it provides liquidity to other market participants. Speculation in land is pointless The land is always there and will not run away. The speculators are just pocketing private taxes that otherwise government could've collected and reallocated elsewhere.

[skybrian]

Seems like if the increase in the tax rate is hardly noticeable then it isn't going to lower land prices very much? You'd need a hefty tax to make desirable locations not worth spending money on.

[brightly-salty]

Land prices decrease proportionally with the level of LVT implemented: 0% of today gives a 100% sales price; 25% LVT gives a 75% sales price; etc; 100% LVT as I propose gives a 0% sales price. Of course the prices increase in a particular transaction more than the exact amount if the buyer wants to live on the land for a long time, though.