For those wondering, a Land Value Tax is just a tax on the Value of land irrespective of whether you have built on it or not. So an empty/derelict lot would at

For those wondering, a Land Value Tax is just a tax on the Value of land irrespective of whether you have built on it or not. So an empty/derelict lot would attract the same tax as one with a 50 unit high rise. This does not directly penalise leaving lots empty / derilict. It does however reward people for not doing that. The main downsides are that you have to have some wy to determine value (and people really hate that) and that you end up subsidising bigger, richer households compared to smaller poorer ones on similar land. It also incentivises people to build those 50 unit super buildings, The article is sort of weird. It makes a bunch of assumptions and does not support them, and it wanders all over the place using statistics that don't actually support its claims. C'est le vie. https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax