Although I agree it doesn't result in increased supply of land, an LVT results in more efficient allocation of existing supply, which is economically equivalent

Although I agree it doesn't result in increased supply of land, an LVT results in more efficient allocation of existing supply, which is economically equivalent to an increase in supply holding allocative efficiency constant. And I 100% agree on land-market regulations. It seems to be a similar story in most first-world economies: regulations are artificially constraining land supply, and also causing inefficient use of existing land.