The author lists out 4 testable statements that a property tax should meet (which are valid IMO), yet doesn't recognize that an LVT fails to meet them!
There is an inherent relationship between what is built on a parcel and its surrounding parcels and the desirability (which greatly influences the value) of that parcel. That relationship makes an LVT fundamentally untenable.
On top of that, people with expensive improvements to their parcel should pay more in property tax, as at least some of that tax goes to fund what is effectively insurance for your improvements (emergency services at a minimum, and you could argue that high quality local government services in general are a form of insurance for the value of those assets).
The author lists out 4 testable statements that a property tax should meet (which are valid IMO), yet doesn't recognize that an LVT fails to meet them!
There is an inherent relationship between what is built on a parcel and its surrounding parcels and the desirability (which greatly influences the value) of that parcel. That relationship makes an LVT fundamentally untenable.
On top of that, people with expensive improvements to their parcel should pay more in property tax, as at least some of that tax goes to fund what is effectively insurance for your improvements (emergency services at a minimum, and you could argue that high quality local government services in general are a form of insurance for the value of those assets).