13 Facts About Land tax

Land value tax is a levy on the value of land without regard to buildings, personal property and other improvements.

The land value tax has been referred to as "the perfect tax" and the economic efficiency of a land value tax has been accepted since the eighteenth century.

Land value tax has progressive tax effects, in that it is paid by the owners of valuable land who tend to be the rich, and since the amount of land is fixed, the tax burden cannot be passed on as higher rents or lower wages to tenants, consumers or workers.

Land value tax creates an incentive to convert these sites to more intensive private uses or into public purposes.

Land tax incidence rests completely upon landlords, although business sectors that provide services to landlords are indirectly impacted.

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Land tax acquires a scarcity value owing to the competing needs for space.

Whether the Land tax was to be advanced by the inhabitant, or by the owner of the ground, would be of little importance.

Alfred Marshall argued in favour of a "fresh air rate", a tax to be charged to urban landowners and levied on that value of urban land that is caused by the concentration of population.

In New South Wales, the state land tax exempts farmland and principal residences and there is a tax threshold.

Determination of land value for tax purposes is the responsibility of the Valuer-General.

The Land tax has contributed to a high rate of owner-occupied residences within Estonia, compared to a rate of 67.

South Korea has an aggregate land tax that is levied annually based on an individual's landholding value across the whole country.

We considered at length the many positive features of a land value tax which are consistent with our recommended local property tax [LPT], particularly its progressive nature.