Ideally LVT, but it isn't necessarily prudent to spend political capital to set up an entirely new form of taxation. Property taxes are still a close enough app

Ideally LVT, but it isn't necessarily prudent to spend political capital to set up an entirely new form of taxation. Property taxes are still a close enough approximation of LVT in cities like San Francisco, Vancouver and London where the majority of the value of a property is derived from its location.