You compare the value of a given property to that of similar properties in other locations. Let us say you have two identical apartment buildings: one in the ci

You compare the value of a given property to that of similar properties in other locations. Let us say you have two identical apartment buildings: one in the city center, and one on the outskirts of the city. It is likely that renting an apartment in the former is more expensive, despite both building being exactly the same. The difference in rental rates between the two buildings is due to the difference in value of the land they are built on. Further reading: http://kaalvtn.blogspot.com/p/valuations-and-potential-lvt-receipts.html#2 http://kaalvtn.blogspot.com/p/valuations-and-potential-lvt-r...