2 ms·
Well no, because people sell entire houses so you can use that to anchor valuations. LVT is only taxing part of the purchase, much harder to disentangle.
by HDThoreaun 3y ago
Well no, because people sell entire houses so you can use that to anchor valuations. LVT is only taxing part of the purchase, much harder to disentangle.
- hn_throwaway_99 3y agoNot at all, and any property assessor will tell you this (e.g. property assessments usually already separate land vs improvements). Nearly all houses are insured, so it's easy to calculate land value as sales price - insured value, basically because insurance only covers the cost of the house. Plus, nearly all locales either have empty lots that are sold, or if there is no more room have houses that are sold as teardowns, and in either case that gives you an unambiguous land value.
- HDThoreaun 3y agoThe thing about land is that there are a million reasons why one lot might be worth a different amount than one next door. A single lot selling in a neighborhood tells you little about the rest of the land prices in the area because of that. Maybe that lot is on a hill or next to a busy street or everyone knows the neighbor is a giant asshole. All these things change the price on a micro level and are impossible to disentangle.