I agree. That said, there is a remaining question: should (by which I mean: is it socially desirable) the component of randomness leading to land value apprec

I agree. That said, there is a remaining question: should (by which I mean: is it socially desirable) the component of randomness leading to land value appreciation also multiply * the value of improvements? * I wrote 'multiply' without evidence, largely based on an educated guess. To what degree is this a reasonable claim?