I personally don't know enough econ to know whether LVT is actually a good idea, but intuitively it makes sense to me. the basic objection to property tax as i

I personally don't know enough econ to know whether LVT is actually a good idea, but intuitively it makes sense to me. the basic objection to property tax as it currently exists is that it penalizes you for improving your property. at the margin, this creates a perverse incentive to let housing stock degrade or even leave whole lots unused. in general LVT advocates want it to replace traditional property taxes, no be added alongside them. the claim is that, for a target tax revenue, LVT can raise the funds much more efficiently. as for California, the problem with their tax system is outside the scope of LVT vs traditional property tax. they have land with massive valuations but get relatively little revenue out of it due to extremely low grandfathered rates.