[orwell_bruh]

This benefit is hypothetical as long as you are not selling your land.

So, up to the point where you would actually sell your land, LVT is simply a liability. Even if eventually you sell are not guranteed to actually make the amount implied by the LVT you have been paying.

Let's think about what structures and incentives and ways of thinking we would foster here. Everyone a property speculator! That worked out so well with housing.

Meanwhile the people who just want to raise a family in peace and stability can now be priced out of their homes because their neighborhood got too "good". And that's just the goldilocks analysis.

In grim reality, city councils can use this to soft-evict anyone, anywhere without giving a reason by simply raising the estimated land value. The corruption is going to be off the charts.

[bluGill]

The point of LVT is to punish you if you could sell for less. That is if you own a small house next to sky scrapers, if you would sell someone would snatch up your house, tear it down, and build another sky scrapper.

Which is also why I don't think it helps Detroit today as they don't have the problem problem of land that someone else would build up on