Apologies if I'm not following entirely. I don't actually see where we disagree here. It sounds like we are both saying that speculation is undesirable, and tha

Apologies if I'm not following entirely. I don't actually see where we disagree here. It sounds like we are both saying that speculation is undesirable, and that an LVT would decrease the reward and incentive of speculating. I suppose I do slightly disagree with the following though: > At any rate, the argument is that such speculators would otherwise build something useful there, but had decided not to because then they'd be paying more property taxes....I don't buy it Its very well researched that tax rates impact property values - so there are certainly marginal developers who are crunching the cost-benefit analyses here who would be swayed by the changes in the ROI(keep in mind, many of these developers are heavily loaded up with debt due to high land prices - meaning that banks need to manage their own risk and limit the amount of capital these developers can access). Even small changes in land/improvement tax rates have been shown to have an impact - a well-known change in boundaries in Denmark in 2007 provided excellent evidence of this[1] [1] https://web.archive.org/web/20201108135554/https://dors.dk/files/media/publikationer/arbejdspapirer/2017/02_arbejdspapir_land_tax.pdf https://web.archive.org/web/20201108135554/https://dors.dk/f...