The problem with property tax instead of land value tax is that a parking lot operator pays a lot less tax than the 30-storey apartment building next door. This

The problem with property tax instead of land value tax is that a parking lot operator pays a lot less tax than the 30-storey apartment building next door. This is despite the fact that both plots of land have the same neighborhood amenities and same development potential. See https://www.youtube.com/watch?v=xqQhoZgFZgk https://www.youtube.com/watch?v=xqQhoZgFZgk